Rosenblatt analyst Mike Genovese raised the firm’s price target on Applied Optoelectronics (AAOI) to $27.50 from $20 and keeps a Buy rating on the shares. The firm thought Applied would slightly miss Q3 and its Q4 revenue estimates, but the actually slightly exceeded consensus second half of FY24 revenue forecasts, the analyst noted. Following the report, the firm is increasing its 2025 and 2026 revenue and EPS estimates, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on AAOI:
- Applied Optoelectronics Reports Q3 2024 Financial Results
- Closing Bell Movers: Toast gains 19% afterhours after earnings beat
- Applied Optoelectronics Enters New Equity Distribution Agreement
- Applied Optoelectronics reports Q3 EPS (21c), consensus (17c)
- Applied Optoelectronics sees Q4 EPS 4c, consensus 6c
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
