Rosenblatt downgraded Infinera (INFN) to Neutral from Buy with a price target of $6.65, down from $8, after the company agreed to be acquired by Nokia (NOK) for $6.65 per share. While it makes sense for other companies, like Ciena (CIEN), to bid on Infinera since there is a lot of value in Infinera’s lasers and laser fab, at this point in the sales process, another bid seems unlikely, the analyst tells investors in a research note.
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