Rosenblatt Raises Price Target on Netgear, Inc. (NTGR) Ahead of 3Q Report
- Oil edges up ahead of U.S. data, OPEC squabbles cap gains
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
- Visa (V) Tops Q4 EPS by 5c
- Rambus (RMBS) Tops Q3 EPS by 3c; Issues Q4 Outlook
- After-Hours Stock Movers 10/24: (SAEX) (CWEI) (RMBS) Higher; (SONC) (WNC) (EFII) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Rosenblatt reiterated a Neutral rating on Netgear, Inc. (NASDAQ: NTGR), and raised the price target to $61.00 (from $55.00), ahead of the company's 3Q earnings report. The company alluded to new products being released in the back half of the year. One of them being Netgear’s Wi-Fi offering, Orbi. Orbi has received great initial response from the retail channel and Rosenblatt believes that this will be a hit product and drive growth going forward.
Analyst Kirk Adams commented, "Netgear reports 3Q16 earnings next month. We are raising our estimates for the current quarter, the full year and next year based on better than expected checks in the retail and commercial businesses. North America continues to lead the charge in both retail and the commercial business. In the retail unit, the yoy comps are much higher beginning this quarter and we anticipate 8-9% yoy growth in both Q3 and Q4. In the commercial business, we should see yoy growth of 18-21% in both Q3 and Q4. We are now projecting slightly better gross and operating margins for the remainder of this year and next."
Shares of NETGEAR closed at $59.35 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Itron (ITRI): Raising PT Ahead Of Earnings - Baird
- Needham & Company Raises Price Target on II-VI, Inc. (IIVI) Ahead of 1Q Release
- FBR & Co. Sees Quick Resolution to Aduro Biotech's (ADRO) Partial Clinical Hold; Trims PT to $20
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesEarnings, Rosenblatt
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!