Acacia Communications (ACIA) PT Raised to $125 at Needham & Company
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Needham & Company analyst Alex Henderson reiterated a Buy rating and raised his price target on Acacia Communications (NASDAQ: ACIA) to $125.00 (from $100.00).
Henderson commented, "There has been a substantial amount of positive news flow on the Optical market and we believe Acacia stands to benefit from much of it. Indications of new orders from China Mobile likely coming in February of CY17 lead our list and with the upside guidance of the CY3Q actuals, we are increasing our estimates, increasing our Target Price to $125 and Reiterating our Buy Rating on ACIA"
The analyst said upside to the December quarter is likely and Street estimates are likely to rise.
The firm raised FY 2016 EPS from $2.61 to $2.92 and FY 2017 EPS from $2.86 to $3.18. The firm's conservative case model is yielding $740MM in Revenues and $4.00 in EPS in CY18. An upside model on Acacia could deliver as much as $5.00 per share on Revenues in the $850MM vicinity in CY18,
Shares of Acacia Communications closed at $92.50 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Raises Price Target on II-VI, Inc. (IIVI) Following 1Q Beat
- UBS Cuts Price Target on Kimberly-Clark (KMB) Following 3Q Report
- UBS Raises Price Target on Zions Bancorp (ZION) to $29 Following 3Q EPS Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Hot Comments, Momentum Movers
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!