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Technology Stocks : Finisar - FNSR -- Ignore unavailable to you. Want to Upgrade?

To: FJB who wrote (380)	6/4/2010 8:33:24 AM
From: Kirk ©	1 Recommendation Read Replies (1) \| Respond to of 509

CITIGROUP INITIATED COVERAGE OF FINISAR CORP WITH HOLD RATING, $17 PT (FNSR) zacks.com FNSR closed yesterday at $14.35 Jun 03, 2010 (SmarTrend News Watch via COMTEX) -- 6/3/2010- Citigroup analyst are initiating Finisar Corp. (NASDAQ:FNSR) with a hold rating and $17 price target as they expect peaking EPS revision momentum to cap further share price gains. Analyst Kevin J. Dennean said, "FNSR shares are up 50% and 143% over last 6 & 12 months respectively, reminiscent of huge gains seen in previous cyclical recoveries of late '03/early '06. This massive outperformance is deserved given improving fundamentals & solid financial performance through downturn. However, FNSR shares are historically an EPS revision momentum story & consensus/our estimates have limited room for further surprise in our view, likely capping further share price gains." The bank sees fiscal 2010 EPS of $0.51, vs. consensus estimates of $0.52 per share, and fiscal 2011 EPS of $0.90, vs. consensus estimates of $0.93 per share. Write to Chip Brian at cbrian@tradethetrend.com