Fabrinet price target raised to $290 from $250 at Rosenblatt

Rosenblatt analyst Mike Genovese raised the firm’s price target on Fabrinet (FN) to $290 from $250 and keeps a Buy rating on the shares after hosting a talk with management. The firm says 1.6T Datacom along with Fabrinet’s new Ciena (CIEN) and Amazon (AMZN) wins will drive catalysts in fiscal 2026. It expects 800+G sequential growth to accelerate starting the second half of 2025, driven by Blackwell BG200 and BG300 deployments. Fabrinet is unique in its ability to consistently grow 15% to 20% organically, which is three-times the growth rate of its end markets and competitors, the analyst tells investors in a research note.