UPDATE: Stifel Reiterates On Infinera Following Investor Meetings

In a report published Monday, Stifel analyst Sanjiv Wadhwani reiterated a Buy rating on Infinera Corp. (NASDAQ: INFN), and raised the price target from $15.00 to $17.00.

In the report, Stifel noted, “The key behind the divergence in performance by Infinera and other optical companies is customer diversification and exposure to customers that are spending dollars. The company's main customers are bandwidth wholesalers (Level 3, Zayo, XO), Internet Content Providers (ICPs such as Microsoft, Google and Facebook), Cable Operators (Time Warner Cable) and traditional telcos (CenturyLink and 16 tier-1s globally). We believe that most if not all of these customers are spending dollars; but more importantly, Infinera's reliance on any of these customers varies from quarter to quarter.”

Infinera closed on Friday at $13.99.