- Barclays analyst Tim Long sets a new price target of $329 for Fabrinet (NYSE:FN), slightly above its current trading price.
- The company projects its fiscal first-quarter revenue to be between $910 million and $950 million, with adjusted earnings expected to surpass market estimates.
Fabrinet (NYSE:FN) is a company that provides advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers. The company operates in a competitive landscape, with peers like Jabil and Flex. Recently, Tim Long from Barclays set a new price target of $329 for FN, slightly above its current trading price of $327.12.
Fabrinet projects its fiscal first-quarter revenue to be between $910 million and $950 million, which is slightly below the market estimate of $916.72 million. However, the company anticipates its first-quarter adjusted earnings to range from $2.75 to $2.90 per share, surpassing the estimated $2.74 per share. This indicates potential profitability despite revenue concerns.
The stock’s recent performance shows a decrease of $2.68, or approximately 0.81%, with a trading range between $323.42 and $331.76 for the day. Over the past year, FN has seen a high of $356.55 and a low of $148.55, reflecting its volatility. With a market capitalization of around $11.72 billion and a trading volume of 1,164,678 shares, FN remains a significant player in its industry.
