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Analysts revise ratings on Fabrinet (NYSE: FN) post Q3 announcement
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Brokers revised their ratings on Fabrinet after the release of the company’s financial results for Q3 FY23. Fabrinet announced that its results for the quarter ended March 31, 2023, exceeded its guidance.
Fabrinet operates in the manufacturing industry, and it fulfils specific manufacturing needs of original equipment manufacturers. Since these clients operate in complex industries, they require specialized manufacturing capabilities.
Fabrinet’s net revenue for the three months ended March 31, 2023, was US$ 665.3 million, compared to US$ 564.4 million in Q3 FY22. Analysts have revised their ratings and target price on Fabrinet. As on May 24, 2023, Fabrinet stock had a consensus price target of US$ 122.
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