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Fabrinet Stock Is Soaring. Wall Street Sees an AI Opportunity.

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The contract electronics manufacturer stock is on pace for a new closing high.

Contract electronics manufacturer Fabrinet stock is on pace for a new closing high as analysts point to solid quarterly results and an opportunity in artificial intelligence.

Lake Street Capital Markets analyst Troy Jensen maintained a Buy rating on Fabrinet and lifted his price target to $165 from $130 in a Tuesday report. “We believe Fabrinet has solid visibility into datacom strength continuing, and we believe growth will accelerate in calendar 2024 once legacy telecom demand returns to normal,” he wrote.

 

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