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DOW   27,178.46 (-0.08%)
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TSLA   1,485.00 (+0.00%)
BA   173.30 (-0.56%)
S&P 500   3,322.98 (-0.14%)
DOW   27,178.46 (-0.08%)
QQQ   270.71 (-0.13%)
TSLA   1,485.00 (+0.00%)
BA   173.30 (-0.56%)
S&P 500   3,322.98 (-0.14%)
DOW   27,178.46 (-0.08%)
QQQ   270.71 (-0.13%)
TSLA   1,485.00 (+0.00%)
BA   173.30 (-0.56%)
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Infinera (NASDAQ:INFN) Given New $8.00 Price Target at Morgan Stanley

Last updated on Thursday, August 6th, 2020 by MarketBeat

Infinera (NASDAQ:INFN) had its price objective upped by stock analysts at Morgan Stanley from $5.00 to $8.00 in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage presently has an "equal weight" rating on the communications equipment provider's stock. Morgan Stanley's price target suggests a potential upside of 2.56% from the company's current price.

INFN has been the subject of a number of other reports. MKM Partners boosted their price target on shares of Infinera from $7.50 to $8.50 and gave the stock a "buy" rating in a research note on Friday, June 19th. B. Riley reissued a "buy" rating on shares of Infinera in a research report on Wednesday, July 29th. Northland Securities cut Infinera from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $9.00 to $5.00 in a report on Wednesday, May 13th. Wolfe Research assumed coverage on Infinera in a research report on Friday, July 24th. They set an "underperform" rating and a $6.00 price target for the company. Finally, Citigroup raised their target price on shares of Infinera from $4.00 to $7.00 and gave the company a "sell" rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of "Hold" and an average price target of $7.63.

Infinera stock opened at $7.80 on Thursday. The business's fifty day moving average is $6.58 and its two-hundred day moving average is $6.17. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.15 and a current ratio of 1.68. The firm has a market cap of $1.52 billion, a P/E ratio of -3.84 and a beta of 1.09. Infinera has a 52 week low of $3.54 and a 52 week high of $8.36.

Infinera (NASDAQ:INFN) last announced its earnings results on Wednesday, August 5th. The communications equipment provider reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of ($0.14) by $0.05. Infinera had a negative net margin of 27.26% and a negative return on equity of 37.47%. On average, equities research analysts predict that Infinera will post -0.71 earnings per share for the current year.

In other news, COO David W. Heard purchased 15,000 shares of Infinera stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average price of $4.33 per share, for a total transaction of $64,950.00. Following the transaction, the chief operating officer now owns 193,207 shares of the company's stock, valued at approximately $836,586.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.82% of the company's stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Infinera by 50.3% during the 2nd quarter. Principal Financial Group Inc. now owns 21,736 shares of the communications equipment provider's stock worth $129,000 after buying an additional 7,274 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Infinera by 8.8% during the second quarter. Russell Investments Group Ltd. now owns 462,126 shares of the communications equipment provider's stock worth $2,733,000 after acquiring an additional 37,338 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Infinera by 15.1% in the second quarter. Swiss National Bank now owns 363,300 shares of the communications equipment provider's stock worth $2,151,000 after acquiring an additional 47,700 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Infinera by 103.3% in the 2nd quarter. ProShare Advisors LLC now owns 21,159 shares of the communications equipment provider's stock valued at $125,000 after purchasing an additional 10,753 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY increased its position in Infinera by 20.0% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,725,750 shares of the communications equipment provider's stock worth $10,216,000 after purchasing an additional 288,007 shares in the last quarter. Institutional investors own 86.85% of the company's stock.

Infinera Company Profile

Infinera Corporation provides optical transport networking 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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7 Gun Stocks to Buy During the Coronavirus Pandemic

Socially conscious investors may want to stop reading. But the fact is that gun stocks were some of the best-performing stocks at the onset of the coronavirus pandemic. And they continue their positive momentum.

Some of that may be historical. Firearms sales tend to increase during an election year. But of course, this has not started out as a normal election year.

In March, the nation was gripped by pictures of long lines outside gun stores in several U.S. states. The website Ammo.com reported that bullet sales increased by 222% in the period from February 23 through March 15 as opposed to the first three weeks in February.

And according to the Federal Bureau of Investigation’s (FBI) National Instant Criminal Background Check System (NICS), there was a 73% year-over-year increase in background checks in February.

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Given the likelihood of increased firearms sales, we’ve created this presentation that highlights seven gun stocks that you should consider for your portfolio.

View the "7 Gun Stocks to Buy During the Coronavirus Pandemic".

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