Infinera Reports Disappointing Top Line in 2Q; More Challenges 2H 2017; Maintain $10 FVE
Infinera’s revenue came in below our expectations and management’s guidance due to a large order shift to the next quarter. The overall conditions for the company remain challenging given a stiff price competition, lackluster product lineup and weak telco spending. Despite near-term revenue and gross margin challenges, we believe Infinera will turn the corner sometime in 2018, given an aggressive new product release cycle. With that said, we maintain our $10 fair value estimate for no-moat Infin...Infinera is a supplier of networking solutions comprised of networking equipment, software and services. The company's portfolio of solutions includes optical transport platforms, converged packet-optical transport platforms, optical line systems and disaggregated router platforms. Also, the company's product portfolio includes the Infinera DTN-X Family, the Infinera hiT 7300 platform, the Infinera mTera Series, the Infinera 7100 Series, the Infinera 7090 Series, and the Infinera XTM Series, among other. Software products include the Infinera Transcend Software Suite, which includes software-defined networking and network management software, and the company's converged network operating system routing software.
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