Citi Neutral on Infinera

Citi Investment Research is out with a research report on Infinera Corp (NASDAQ: INFN) and it has a Neutral rating and a $19 price target on shares.

In a note to clients, Citi Investment Research writes, "Revenues/EPS of $104.0mln/($0.09) were better than the $99.9mln/($0.11) consensus and above mgt's $97-103mln/($0.12)-($0.10) guidance. The positive margin impact from a "healthy" mix of TAMs (as described by mgt) was offset by lower margin of chassis/common equipment as INFN completed some large deployments & gained additional footprint."

Shares of INFN gained 20 cents yesterday to close at $7.99.