Rosenblatt Raises Price Target on Netgear, Inc. (NTGR) Ahead of 3Q Report
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a 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
- MKM Partners Raises Price Target on Ciena (CIEN) to $30 Following 4Q
- Stifel Reiterates Buy on Selecta Biosciences (SELB) Following Phase l Data Release
- lululemon athletica (LULU): Skeptics Are Quieter - Wedbush
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!