$Fabrinet(FN)$ $Lumentum(LITE)$ $Ciena(CIEN)$ Northland is calling Fabrinet a major buying opportunity. The firm points to a raft of positive data points from key customers like Lumentum and Ciena, yet the stock has kept drifting lower. With the broader AI optical space pulling back and some slowdown concerns floating around, they find it ironic that Fabrinet would underperform, especially since they view it as the supplier with the lowest risk profile in that scenario. Northland reiterates an Outperform rating and an $800 price target.
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