Acacia Communications (ACIA) PT Raised to $125 at Needham & Company

October 11, 2016 7:08 AM EDT
Get Alerts ACIA Hot Sheet
Price: $62.46 --0%

Rating Summary:
    5 Buy, 2 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 1
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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,

For an analyst ratings summary and ratings history on Acacia Communications click here. For more ratings news on Acacia Communications click here.

Shares of Acacia Communications closed at $92.50 yesterday.

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