Applied Optoelectronics (AAOI) stock soared 12.21% in the intraday trading session on Wednesday, following positive analyst action from Nomura.
Nomura initiated coverage on the fiber optics component manufacturer with a Buy rating and a price target of $41. The bullish stance from the investment bank fueled investor enthusiasm, driving the stock price higher.
According to analysts polled by FactSet, Applied Optoelectronics currently has an average rating of Overweight and a mean price target of $37.89, indicating that analysts, in general, expect further upside potential for the stock.
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