Why Investors Were Piling Into Applied Optoelectronics Stock This Week

Applied Optoelectronics (NASDAQ: AAOI) stock was the beneficiary of an analyst's price target raise over the course of the week, so it was little wonder the shares were doing well. According to data compiled by S&P Global Market Intelligence, they were trading more than 18% higher week to date as of very early Friday morning.Mike Genovese of Rosenblatt upped his fair value assessment on Applied stock to $34 per share from his previous level of $30. In doing so, he maintained his existing buy recommendation. At the new price target, Genovese is predicting the stock will appreciate by more than 22% over its current price. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool