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Infinera (INFN)

Infinera (INFN) provides Intelligent Transport Networks, enabling carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and automate optical network operations.

INFN reported earnings early last week and disappointed. The stock took a significant haircut trading down to mid 4’s from 6.30. On Friday, Jefferies analyst George Notter came out and upgraded INFN to a hold from underperform. Notter stated that the stock got crushed and with capitulation behind us and merger and acquisition news in the optical space today, this could make for compelling bounce story. 

Along with Notter’s upgrade, INFN announced today that they will be presenting at the Needham Investor Conference on Tuesday, November 13th. With all the bad news out of the way and the conference next week, INFN seems like a compelling bounce play for next week.

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