 Needham raised Fabrinets price target on Tuesday after the electronic manufacturing services provider reported 4Q earnings that topped analysts estimates.Needham analyst Alex Henderson lifted Fabrinets FN price target to 85 16.9 upside potential from 81, but kept a Hold rating on the stock. In a note to investors, Henderson said Despite Covid-19 constraints to production, increased procurement and logistics costs, and constraints inhibiting their customers, FN posted a strong quarter and offered guidance ahead of the Street at the mid-point.On Aug. 17, Fabrinet reported 4Q earnings of 0.96, beating analysts expectations of 0.87. Revenues of 405.1 million also surpassed Street estimates of 388.5 million. The companys CEO Seamus Grady said, We remain optimistic about demand for products in the core markets we serve, despite COVID headwinds, and anticipate sequential growth in the first quarter.Following 4Q results, JPMorgan analyst Samik Chatterjee raised the stocks price target to 80 10 upside potential from 70 and reiterated a Buy rating. Chatterjee said he is encouraged by Fabrinets above-consensus 1Q outlook.Overall, FN has a Moderate Buy analyst consensus. The average price target of 77.40 implies upside potential of 6.5 to current levels. See FN stock analysis on TipRanks.Related News: D.A. Davidson Lifts Applied Materials PT On Solid 3Q Earnings Susquehanna Lifts Nvidias PT To Street High Ahead of Tomorrows 2Q Results Barclays Lifts NetEases PT On Gaming Sales Growth Bet More recent articles from Smarter Analyst: Australia Inks Deal With AstraZeneca For Supply Of Covid-19 Vaccine Candidate Verona Up 10 On Lung Trial Kick Off; Analyst Initiates Stock At Buy Etsy Declares 650M Convertible Note Offering; Stock Up 200 YTD CytoDyn Seeking UK Fast-Track Approval For Leronlimab In Covid-19 