JDS Uniphase (JDSU) to Benefit from Increased Capex at AT&T (T) and Verizon (VZ)

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Analysts at Jefferies Equity Research lowered their price target on JDS Uniphase (NASDAQ: JDSU) from $18 to $15, while maintaining their BUY rating on the stock.

JDS Uniphase, based in Milpitas, CA, is a diversified technology company with a focus on products that manipulate light waves for communications, commercial and industrial applications. The company is also the market share leader in test and measurement solutions for the communications industry.

Analysts at Jefferies think JDS Uniphase will benefit from recovering service provider capital expenditure at companies such as AT&T (NYSE: T) and Verizon (NYSE: VZ) and improving profitability in the CommTest division.

JDSU currently trades at a discount to its peers, who have an average multiple of 12x. Jefferies analysts arrived at $15 price target by applying the group average multiple of 12x to their calendar 2013 EPS estimate.

For an analyst ratings summary and ratings history on JDS Uniphase click here. For more ratings news on JDS Uniphase click here.

Shares of JDS Uniphase closed at $9.91 yesterday, with a 52 week range of $8.59-$20.75.

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