Jefferies Raises Price Target on Ceragon Networks (CRNT) to $2.50
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Jefferies reiterated a Hold rating on Ceragon Networks (NASDAQ: CRNT), and raised the price target to $2.50 (from $2.00), following the company's 3Q earnings report. Fevenue hit $79.1M, beating Consensus of $77.6M. Q3 EPS totaled $0.06, above the Street's $0.04.
Analyst James Kisner commented, "Ceragon reported another good quarter in Q3 with revenue and EPS beats. We believe management has done an admirable job returning the company to profitability. However, we continue to look for another entry point. Maintain Hold."
Shares of Ceragon Networks closed at $2.54 yesterday.
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