Needham & Company Reiterates Hold Ahead of Viavi Solutions' (VIAV) 1Q Report
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Needham & Company reiterated a Hold rating on Viavi Solutions (NASDAQ: VIAV) ahead of the company's 1Q earnings report. At its analyst day in September, Viavi cautioned on the outlook for Service Provider spending and expects softness in CY2H16 spending. Another concern in the quarter was the disruption and delays and reluctance to buy resulting from an activist letter to the board insisting on dramatic actions to eliminate losses in the SE division.
Analyst Alex Henderson commented, "Viavi is set to print results on November 1st after the close. We think the September quarter is likely OK to a bit soft, but we are nervous about a weak guide into CY4Q. With down Capex at both Verizon and AT&T likely and Verizon tightening Capex to the lower end of the band on a weak 3Q print, we think the risk of a soft CY4Q has increased. We are solidly on the sidelines on this name and cautious into the print."
Shares of Viavi Solutions closed at $7.19 yesterday.
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