The stock of Applied Optoelectronics (AAOI) surged 5.15% to trade higher during Friday's intraday session.
The sharp upward movement came after Rosenblatt raised its price target on the company to $44 from $27.50, while reiterating a Buy rating on the shares. The analysts at Rosenblatt appear to have grown more optimistic on AAOI's prospects after discussions with the company management.
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