Fabrinet Hosts Tech Conference With Deutsche Bank

Fabrinet (NYSE: FN) reports that demand trends are staying positive and Fabrinet is seeing strong demand in Optical Components as well as Laser and Sensor markets, Deutsche Bank reports.

According to Deutsche, Optical Components is expecting to grow 13-14% over the next few years, while Laser and Sensor markets are also viewed as growth opportunities as this market is only in the beginning phases of outsourcing. Fabrinet is expecting revenues to grow 18-20% following the few year plan.

Fabrinet is continuing to invest in its growing, high-margin Custom Optics business (~10% of revenues) and expects that percentage to increase, although management did not provide target points to Deutsche Bank during its meeting with Fabrinet's CEO Mark Schwartz.

Deutsche Bank maintains its Buy rating and $20 price target.

Fabrinet closed yesterday at $13.70.

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