Needham & Company Remains Sidelined on Viavi Solutions (VIAV) Following Analyst Day
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Needham & Company reiterated a Hold rating on Viavi Solutions (NASDAQ: VIAV) following the company's analyst day. Viavi offered caution on the outlook for Service Provider spending and expects softness in CY2H16 spending.
Analyst Alex Henderson commented, "We like the new Viavi management team. We like the strategy. We love the detail. But we think VIAV shares are fairly valued. Viavi likely to reach $0.50-$55 by FY19 putting these shares at 14.5x P/E and 11.5x EV/E. For a company with low to mid single growth this seems reasonable particularly given the decline in Revenues expected over the next two years. Opportunities in Smart Phones and auto paints may offer upside as could acquisitions. We remain at a Hold."
Shares of Viavi Solutions closed at $7.34 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- KLA-Tencor (KLAC): Raising PT to $86 - Needham
- Stifel Upgrades PayPal (PYPL) to Buy Following 'Solid' Q3 Results
- RBC Capital Raises Price Target on Benchmark Electronics (BHE) Following In-Line 3Q
Create E-mail Alert Related CategoriesAnalyst Comments
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!