Fabrinet price target raised to $452 from $366 at B. Riley

B. Riley raised the firm’s price target on Fabrinet (FN) to $452 from $366 and keeps a Neutral rating on the shares. The company reported a “beat-and-raise” fiscal Q2 but datacom remains flattish, the analyst tells investors in a research note. Riley says Fabrinet’s “premium multiple leaves little room for error.”