ARRIS Group (ARRS): Raising PT On Reduced Risk Of STB Proposal - Needham

November 21, 2016 6:44 AM EST
Get Alerts ARRS Hot Sheet
Price: $29.33 +0.20%

Rating Summary:
    13 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade ARRS Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

Needham & Company analyst, Richard Valera, reiterated his Buy rating on shares of ARRIS Group (NASDAQ: ARRS) and raised the price target to $35 after hosting the VP of Investor Relations, Bob Puccini, for a series of investor meetings.

The most notable incremental takeaways include the likely end of the FCC app-based STB
proposal and a clearer view of the company's capital allocation strategy, which appears
to have tilted toward M&A. The analyst thinks ARRS is well positioned to take advantage of a multi-year network upgrade cycle by its MSO customers, and we view the likely demise of the FCC proposal as serving to de-risk the long-term outlook of the company's STB business.

The new $35 increase from $32 is based on 11.8x C'17 EPS and reflects reduced risk from the FCC's STB proposal.


For an analyst ratings summary and ratings history on ARRIS Group click here. For more ratings news on ARRIS Group click here.

Shares of ARRIS Group closed at $29.17 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change, Management Changes

Related Entities

Needham & Company

Add Your Comment