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Finisar (FNSR) Stock Gains, Upgraded to 'Buy' Ahead of Q1 Results

NEW YORK (TheStreet) -- Shares of Finisar (FNSR) were advancing in mid-afternoon trading on Tuesday as the company's stock rating was raised ahead of its 2017 fiscal first quarter earnings. The quarterly report is due out after Thursday's closing bell.

Stifel upgraded shares to "buy" from "hold" with a $28 price target earlier today, the Fly reports.

The firm believes that the demand outlook for the company's 100G high-speed receivers and photodetectors portfolio has improved. Additionally, concerns about competition facing the company's QSFP28 optical transceiver are overdone.

Stifel noted that Finisar's margins can...