Fabrinet upgraded to Overweight from Equal Weight at Barclays

Barclays upgraded Fabrinet (FN) to Overweight from Equal Weight with a price target of $537, up from $499. The firm sees Fabrinet as the company with the most upside to revenue numbers in 2026 within the distributor space. Fabrinet is the primary supplier to Nvidia (NVDA) designed transceivers, the analyst tells investors in a research note. Barclays says that while the transition from 800G to 1.6T has been slow, it should accelerate through 2026, even if more suppliers are added.