Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements. There have been upward revisions in current-year earnings estimates for Fabrinet. The Zacks Consensus Estimate for the current year has surged 2.8% over the past month. Bottom Line Fabrinet has not only earned a Growth Score of A based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. This combination positions Fabrinet well for outperformance, so growth investors may want to bet on it.