William L. Moore
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Oclaro Remains A Top Pick At MKM, Price Target Raised To $10

Shares of Oclaro, Inc.  have more than tripled in price over the past year, widely outperforming all major stock indexes. However, after meeting with the company’s CEO and CFO, MKM Partners’ Managing Director Michael Genovese believes there's still room for upside.

Consequently, Oclaro remains not only Buy-rated at MKM, but also its top pick. In fact, the firm decided to boost its estimates and price target. The experts now see the stock trading at $10 within the next 12 months – up from a previous target of $8, and expect 2017 EPS of $0.41 on revenue of $548 million, and 2018 EPS of $0.58 on revenue of $614 million – a considerable increase from the previous estimates.

Why So Bullish?