Citi Maintains Hold on Finisar

Citi is out with its report today on Finisar (NASDAQ: FNSR), maintaining Hold.

In a note to clients, Citi writes, "Maintain Hold/Spec. & wait for lower stock price level or expectations reset before considering being more constructive. Ciena remains our top pick for the cycle, and we continue to favor JDSU for its diversified, but still bandwidth driven business model, as well as OCLR, which should benefit from multiple 2H levers (WSS ROADM components, T-XFP, 40G line cards, and ramping APS revenue)."

Citi maintains a $25.50 PT on FNSR.

Shares of FNSR closed Thursday at $22.10, down 0.85% from Wednesday's close.