UBS Lifts Price Target on JDS Uniphase (JDSU)

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UBS today reiterated a Buy rating on JDS Uniphase (NASDAQ: JDSU) and raised its price target to $16.00 (from $13.00).

Analysts said "JDSU is our preferred pick to capitalize on a potential optical spending uptick while the Test & Measurement segment provides exposure to positive wireless (LTE) and broader wireline trends."

UBS believes JDSU may see upside to sales estimates later this year as comparisons get easier, especially in light of positive commentary on telcos.

Analyst say an upcoming investor conference on January 14th is a key event, as investors await color on spending outlook and sentiment.

For an analyst ratings summary and ratings history on JDS Uniphase click here. For more ratings news on JDS Uniphase click here.

Shares of JDS Uniphase closed at $13.86 yesterday, with a 52 week range of $8.47-$15.17.

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