NPTN - NeoPhotonics upgraded at DA Davidson on 'attractive' valuation

Growing more positive on the risk-reward profile, DA Davidson upgrades NeoPhotonics (NPTN) from Neutral to Buy and raises the price target from $11 to $15.Analyst Thomas Diffely says the firm has become "increasingly bullish in recent months" due to a combination of factors, which include leverage to the high-growth optical total addressable market, projections that NPTN could double its serviceable addressable market, and the "attractive" valuation.NPTN shares are flat pre-market at $8.40.Last month, the company's shares pulled back after Q4 revenue fell short of consensus estimates.

For further details see:

NeoPhotonics upgraded at DA Davidson on 'attractive' valuation