Fintel reports that on September 28, 2023, Stifel initiated coverage of Infinera (NASDAQ:INFN) with a Buy recommendation.
Analyst Price Forecast Suggests 70.42% Upside
As of August 31, 2023, the average one-year price target for Infinera is 6.83. The forecasts range from a low of 4.04 to a high of $12.60. The average price target represents an increase of 70.42% from its latest reported closing price of 4.01.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Infinera is 1,693MM, an increase of 2.94%. The projected annual non-GAAP EPS is 0.31.
What is the Fund Sentiment?
There are 407 funds or institutions reporting positions in Infinera. This is a decrease of 22 owner(s) or 5.13% in the last quarter. Average portfolio weight of all funds dedicated to INFN is 0.14%, a decrease of 23.93%. Total shares owned by institutions decreased in the last three months by 2.10% to 245,889K shares. 
The put/call ratio of INFN is 0.22, indicating a bullish outlook.
What are Other Shareholders Doing?
Oaktree Capital Management holds 25,175K shares representing 11.09% ownership of the company. No change in the last quarter.
Shapiro Capital Management holds 18,978K shares representing 8.36% ownership of the company. In it's prior filing, the firm reported owning 15,005K shares, representing an increase of 20.93%. The firm decreased its portfolio allocation in INFN by 18.84% over the last quarter.
Brown Advisory holds 13,672K shares representing 6.02% ownership of the company. In it's prior filing, the firm reported owning 12,489K shares, representing an increase of 8.65%. The firm increased its portfolio allocation in INFN by 31.08% over the last quarter.
FDGRX - Fidelity Growth Company Fund holds 10,556K shares representing 4.65% ownership of the company. In it's prior filing, the firm reported owning 10,666K shares, representing a decrease of 1.05%. The firm decreased its portfolio allocation in INFN by 39.01% over the last quarter.
Greenhouse Funds LLLP holds 9,920K shares representing 4.37% ownership of the company. In it's prior filing, the firm reported owning 8,048K shares, representing an increase of 18.87%. The firm decreased its portfolio allocation in INFN by 28.58% over the last quarter.
Infinera Background Information
(This description is provided by the company.)
Infinera is a global supplier of innovative networking solutions that enable carriers, cloud operators, governments, and enterprises to scale network bandwidth, accelerate service innovation, and automate network operations. The Infinera end-to-end packet optical portfolio delivers industry-leading economics and performance in long-haul, submarine, data center interconnect, and metro transport applications.
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