Equities research analysts at Morgan Stanley began coverage on shares of Infinera (NASDAQ:INFN) in a research report issued on Tuesday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $9.50 price target on the communications equipment provider’s stock. Morgan Stanley’s price target indicates a potential upside of 30.49% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. BidaskClub raised Infinera from a “hold” rating to a “buy” rating in a report on Thursday, June 28th. Rosenblatt Securities set a $13.00 price target on Infinera and gave the company a “buy” rating in a report on Tuesday, July 24th. ValuEngine raised Infinera from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Zacks Investment Research cut Infinera from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, MKM Partners dropped their price target on Infinera to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, July 24th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.00.

Shares of NASDAQ INFN traded up $0.29 during trading on Tuesday, hitting $7.28. The company had a trading volume of 74,144 shares, compared to its average volume of 2,558,604. The stock has a market capitalization of $1.08 billion, a P/E ratio of -8.87 and a beta of 0.14. Infinera has a 52 week low of $6.10 and a 52 week high of $12.39.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Tuesday, August 7th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The company had revenue of $208.23 million for the quarter, compared to analysts’ expectations of $208.96 million. Infinera had a negative return on equity of 13.09% and a negative net margin of 19.95%. During the same quarter in the prior year, the company earned ($0.15) earnings per share. sell-side analysts predict that Infinera will post -0.39 earnings per share for the current year.

A number of large investors have recently made changes to their positions in INFN. Bank of New York Mellon Corp raised its stake in Infinera by 10.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,804,996 shares of the communications equipment provider’s stock valued at $137,084,000 after purchasing an additional 1,265,072 shares during the period. BlackRock Inc. increased its stake in shares of Infinera by 12.5% in the second quarter. BlackRock Inc. now owns 10,961,436 shares of the communications equipment provider’s stock worth $108,849,000 after acquiring an additional 1,222,230 shares during the last quarter. Millennium Management LLC increased its stake in shares of Infinera by 1,021.4% in the first quarter. Millennium Management LLC now owns 1,099,867 shares of the communications equipment provider’s stock worth $11,945,000 after acquiring an additional 1,001,790 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Infinera by 1,721.2% in the first quarter. Royal Bank of Canada now owns 186,835 shares of the communications equipment provider’s stock worth $2,029,000 after acquiring an additional 176,576 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Infinera by 582.9% in the second quarter. Canada Pension Plan Investment Board now owns 203,499 shares of the communications equipment provider’s stock worth $2,021,000 after acquiring an additional 173,699 shares during the last quarter. 83.12% of the stock is currently owned by institutional investors.

Infinera Company Profile

Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

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Analyst Recommendations for Infinera (NASDAQ:INFN)

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