Barclays raises Fabrinet price target to $702 after record Q3 revenue and earnings beat forecasts

Barclays analyst Tim Long increased Fabrinet's price target to $702 following the company's record third fiscal quarter of 2026, with revenues hitting $1.21 billion and earnings per share of $3.72, both surpassing analyst expectations. This marks the fourth consecutive quarter Fabrinet has exceeded revenue and earnings estimates, driven by strong programs and new customer deals in the datacom market. CEO Seamus Grady highlighted ongoing growth momentum and optimism for future expansion. The price target rise reflects strong market confidence in Fabrinet's financial performance and growth prospects.