Fabrinet price target raised to $430 from $345 at JPMorgan

JPMorgan raised the firm’s price target on Fabrinet (FN) to $430 from $345 and keeps an Overweight rating on the shares. The firm increased estimates for Fabrinet to reflect stronger demand trends in both the datacom and telecom end markets. These are being supported by “robust” investments in datacenter infrastructure, the analyst tells investors in a research note. JPMorgan sees a continued strong revenue and earnings growth trajectory for the company.