Ceragon Networks (CRNT): Raising PT Ahead Of Expected Large Sprint Follow-on Purchases - Needham
- Wall Street falls ahead of inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- Synergy Pharma (SGYP) Trulance (Plecanatide) Approved by FDA
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Needham & Company analyst, Alex Henderson, reiterated his Buy rating on shares of Ceragon Networks (NASDAQ: CRNT) ahead of likely follow on purchases to Sprint's initial $4 million deal (4Q) that should come in 2017.
Ceragon announced several large contract wins over the last few months including a $40 million plus deal in Mexico. It announced a win of a $4 million plus order from a US Tier 1 Service Provider, Sprint. The initial $4 million plus order in CY4Q is a small taste of Sprint's overall purchasing need. Ceragon noted they are the "Prime Supplier" leading the analyst to expect substantially larger Sprint orders in CY17.
The PT increases to price target of $3 from $2.50.
Shares of Ceragon Networks closed at $2.64 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Ceragon Networks (CRNT) PT Raised to $3 at Jefferies Following Preannouncement
- Oclaro (OCLR): Preannouncement Positive And Margin Leverage Means More To Come - Needham
- Plexus (PLXS) PT Raised to $57 at RBC Capital
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
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!