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Applied Optoelectronics initiated with a Buy at Needham

Needham initiated coverage of Applied Optoelectronics (AAOI) with a Buy rating and $32 price target The company is positioned to gain “material share” in the $12B high-speed global optical datacom transceiver market, the analyst tells investors in a research note. In addition, Applied’s cable television business has started to rebound, contends the firm.

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