Infinera: Raising Price Target As Performance And Potential Grow
- Solid Q3 results and Q4 guidance demonstrate that Infinera is navigating uncertainty in the networking sector.
- Continued cost discipline and long-term gross margin expansion is positioning the company for 2015 EPS growth approaching 100%.
- Growing cash balances, with potential for capital deployment in 2015.
- Raising price target to $15 as solid execution and guidance warrant upward revisions to multiple.