Jefferies Reiterates a 'Buy' on Cavium Networks (CAVM); Beat and Raise...Nice!
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Price: $34.68 -1.48%
Rating Summary:
9 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Rating Summary:
9 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Trade CAVM Now!
Jefferies reiterates a 'Buy' on Cavium Networks (NASDAQ: CAVM) price target of $37.00 (from $35.00).
Analyst, Sundeep Bajikar, said, "Positive Q2 results and Q3 guidance demonstrate not just the strength in Cavium's product cycles in a difficult macro environment, but also highlight solid execution in: 1) wireless base station, 2) Cisco recovery, 3) OpEx controls, and 4) disruptive new products. We expect renewed investor interest and short-covering to drive nice near-term upside for the stock."
Raises Q3 EPS estimate from $0.05 to $0.11, FY12 from $0.20 to $0.34 and FY13 from $0.94 to $1.00.
For an analyst ratings summary and ratings history on Cavium Networks click here. For more ratings news on Cavium Networks click here.
Shares of Cavium Networks closed at $27.55 yesterday, with a 52 week range of $22.30-$38.67.
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Analyst, Sundeep Bajikar, said, "Positive Q2 results and Q3 guidance demonstrate not just the strength in Cavium's product cycles in a difficult macro environment, but also highlight solid execution in: 1) wireless base station, 2) Cisco recovery, 3) OpEx controls, and 4) disruptive new products. We expect renewed investor interest and short-covering to drive nice near-term upside for the stock."
Raises Q3 EPS estimate from $0.05 to $0.11, FY12 from $0.20 to $0.34 and FY13 from $0.94 to $1.00.
For an analyst ratings summary and ratings history on Cavium Networks click here. For more ratings news on Cavium Networks click here.
Shares of Cavium Networks closed at $27.55 yesterday, with a 52 week range of $22.30-$38.67.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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