Needham & Company Remains Sidelined on Viavi Solutions (VIAV) Following Analyst Day

September 19, 2016 8:28 AM EDT
Get Alerts VIAV Hot Sheet
Price: $8.48 +0.95%

Rating Summary:
    3 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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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."

For an analyst ratings summary and ratings history on Viavi Solutions click here. For more ratings news on Viavi Solutions click here.

Shares of Viavi Solutions closed at $7.34 yesterday.

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