In a report released today, Ryan Koontz from Needham maintained a Buy rating on Fabrinet (FN – Research Report), with a price target of $280.00.
Ryan Koontz has given his Buy rating due to a combination of factors including the recent contract and warrants issuance with Amazon, which is anticipated to significantly impact Fabrinet’s financial performance in fiscal year 2026. The company is also expected to see growth from its 1.6T products starting in the June quarter, alongside several telecom sector successes that are currently scaling up.
Despite some concerns regarding the attachment rates with NVIDIA, Koontz sees potential for upward revisions in their fiscal year 2026 projections due to the Amazon and telecom developments. While there is a slight reduction in estimates for the March quarter based on the terms of the deal, the overall outlook remains positive, supporting the Buy rating at current stock levels.
Koontz covers the Technology sector, focusing on stocks such as Gilat, Kaltura, and Adtran. According to TipRanks, Koontz has an average return of -4.4% and a 39.07% success rate on recommended stocks.
In another report released on March 14, Northland Securities also maintained a Buy rating on the stock with a $350.00 price target.