Benzinga | Jan 24, 2022 08:59AM EST

B. Riley Bumps Up Infinera Price Target By 15%; Turns Bullish

* B. Riley analyst Dave Kang upgraded Infinera Corp (NASDAQ:INFN) to Buy from Neutral with a price target of $11.50, up from $10, implying an upside of 44.65%.

* The analyst believes the value of the company's digital signal processing technology is "significantly underappreciated" at current share levels.

* As one of two providers of 800G products, the ramp of 800G will be a "major catalyst for multiple expansion," Kang notes.

* The analyst's latest checks indicate demand remains robust and sees "strong demand/visibility" for Infinera.

* Infinera is an optical transport equipment provider.

* Price Action: INFN shares traded higher by 4.28% at $8.29 in the premarket session on the last check Monday.