Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Finisar
So what: Analyst William Stein bumped his price target up to $43 from $30 and now sees 2011 earnings of $2.05 per share. The upgrade wasn't too much of a stretch after seeing competitor JDS Uniphase
Now what: Whether it was JDS Uniphase's results or the analyst upgrade, Finisar looks to be in a good position in 2011. Broadband and wireless companies are rapidly upgrading networks, and that should mean more to Finisar's bottom line. The move may be overdone today without any news from the company, but long term the stock provides good growth opportunities for investors.
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