Fabrinet hits 7-month high on upbeat Q4 results

Fabrinet

16/08/2022 18:48

** Optical equipment maker Fabrinet's shares  FN.N  jump 16%
to $116.78, hitting a near seven-month high on the back of
strong Q4 earnings and rev
    ** Co reports Q4 earnings of $1.68 per share, beating
analyst's estimates of $1.54 per share - Refinitiv data
    ** FN posts revenue of $587.9 mln beating est. of $581.5 mln
    ** Co issues forecast for Q1 2023; expects rev of $620-$640
mln and earnings of $1.72-$1.79 per share, ahead of analysts'
expectations on both earnings and rev  urn:newsml:reuters.com:*:nASA03LU5
    ** Northland Capital and Needham raise FN's PT, citing
better-than-expected Q4 results and FY 2023 outlook  
    ** Three of five brokerages rate the stock "buy" and two
rate it "hold"; their median PT is $124.5
    ** Stock down 1.5% YTD 

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))