Fabrinet price target raised to $550 from $375 at Northland

Northland raised the firm’s price target on Fabrinet (FN) to $550 from $375 and keeps an Outperform rating on the shares following the company’s “much better than expected” fiscal Q1 report and Q2 guidance. Growth has accelerated to 29% for Q2 from 19% in FY25 and remains “remarkably broad based,” says the analyst, who believes this breadth and consistent execution warrant a valuation premium.