Fabrinet upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded Fabrinet (FN) to Overweight from Neutral with a price target of $345, up from $318. The post-earnings pullback in the shares provides an attractive entry point, the analyst tells investors in a research note. The firm believes Fabrinet is well positioned to deliver material upside to estimates given its exposure to Nvidia, Ciena and Amazon. JPMorgan says the company’s 1.6T opportunity with Nvidia could “conservatively” track close to $500M 2026.