JPMorgan analyst Samik Chatterjee downgraded Fabrinet (FN) to Neutral from Overweight with a price target of $700, up from $530. The firm is taking a more cautious view on optical companies into earnings. Current valuations require investors “dial forward” to 2028 earnings, the analyst tells investors in a research note. JPMorgan believes visibility into earnings into 2028 needs to improve further to support material upside to the current share prices.
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