Rosenblatt analyst Mike Genovese raised the firm’s price target on Applied Optoelectronics (AAOI) to $27.50 from $20 and keeps a Buy rating on the shares. The firm thought Applied would slightly miss Q3 and its Q4 revenue estimates, but the actually slightly exceeded consensus second half of FY24 revenue forecasts, the analyst noted. Following the report, the firm is increasing its 2025 and 2026 revenue and EPS estimates, the analyst added.
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