ARRIS Group (ARRS): FCC Proposal Passing Will Be A Negative Catalyst - Needham
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Needham & Company analyst, Richard Valera, reiterated his Buy rating on shares of ARRIS Group (NASDAQ: ARRS) after FCC Chairman Tom Wheeler presented a revamped version of his proposal seeking to "open up" the video set top market to new competition. The new "App-based" proposal involves forcing operators to enable hardware-independent linear video service by offering an App that provides access to the operators' video stream. Assuming this proposal is passed on its Sept. 29 vote, the analyst would only spin it as \a win for consumers and negative for providers of traditional video STBs like ARRS.
That said, given the 2-year implementation timeline, numerous technical and potential legal obstacles that would remain to implement it, the poor track record of prior such initiatives and, finally, the still modest modest valuation of ARRS he maintains his Buy rating.
price target of $32.00
Shares of ARRIS Group closed at $26.73 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Downgrades Vascular Solutions (VASC) to Hold Amid Takeover
- Shopify (SHOP): CFO Meetings Indicate Strong Growth Ahead - Wedbush
- Impinj (PI) Prices 3.5M Share Follow-on Stock Offering for Proceeds of $94.9M
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!