Infinera Corp. PT Lowered to $10.00 (INFN)
Equities research analysts at MKM Partners cut their price objective on shares of Infinera Corp. (NASDAQ:INFN) from $14.00 to $10.00 in a research note issued to investors on Wednesday, Analyst Ratings Network.com reports. The firm currently has a “buy” rating on the stock. MKM Partners’ price objective indicates a potential upside of 32.28% from the company’s current price.
In other Infinera Corp. news, President David Welch sold 10,000 shares of Infinera Corp. stock on the open market in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $9.03, for a total value of $90,300.00. Following the transaction, the president now directly owns 14,132 shares of the company’s stock, valued at approximately $127,612. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at FBR Capital Markets initiated coverage on shares of Infinera Corp. in a research note to investors on Thursday, December 19th. They set an “outperform” rating and a $12.50 price target on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $12.18.
Infinera Corp. (NASDAQ:INFN) traded up 1.65% during mid-day trading on Wednesday, hitting $7.685. 927,155 shares of the company’s stock traded hands. Infinera Corp. has a 52 week low of $6.06 and a 52 week high of $12.16. The stock’s 50-day moving average is $9.30 and its 200-day moving average is $10.31. The company’s market cap is $918.8 million.
Infinera Corporation (NASDAQ:INFN) provides optical networking equipment, software and services to communications service providers, Internet content providers, cable operators and subsea network operators (collectively, Service Providers) across the globe.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.