Needham & Company Remains Sidelined on Viavi Solutions (VIAV) Following Analyst Day
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. 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
- Finisar (FNSR) PT Raised to $44 at Needham & Company, Estimates Raised Sharply
- Needham & Company Raises Price Target on Finisar (FNSR) to $44; Reiterates Strong Buy
- BTIG Starts Mitek Systems (MITK) at Buy
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!