Fabrinet shares climb after J.P.Morgan upgrades to 'overweight'

Fabrinet

25/08/2025 15:15

Updates

** Shares of optical packaging provider Fabrinet FN.N rise nearly 5% to $308.55

** J.P.Morgan upgrades stock rating to "overweight" from "neutral"

** Brokerage sees co as a strong long-term play because it is well positioned to benefit from growing investments in AI and data center infrastructure

     ** Raises PT to $345 from $318; new PT represents a 17.2% upside to the stock's last close on Friday

** Brokerage also expects FN to outperform in the near term, supported by strong growth from several large customer programs that are just beginning to ramp and are expected to gain momentum over the next few quarters

** On Thursday, co's fiscal Q4 revenue rose 21% yr/yr, beating analysts' expectations, as per LSEG data

** Average rating of 10 analysts is "buy"; median PT is $349.5 - data compiled by LSEG

** As of last close, FN is up nearly 40.24% YTD including today's gain

 (Reporting by Akriti Shah in Bengaluru)

 ((akriti.shah@thomsonreuters.com))