William Blair Has Increased Confidence in Ruckus Wireless (RKUS)

August 16, 2013 9:51 AM EDT
Get Alerts RKUS Hot Sheet
Price: $12.87 --0%

Rating Summary:
    7 Buy, 19 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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William Blair analyst Jason Ader reiterated an Outperform rating on Ruckus Wireless (NYSE: RKUS) Friday on increased confidence following management meetings.

"We hosted investor meetings with Ruckus management this week and came away with increased confidence in our medium- to long-term thesis that Ruckus is well positioned to benefit from growing deployments of service provider Wi-Fi around the globe," Ader said.

After a rough start to the year, the analyst sensed renewed conviction in business visibility helped by strong RFP activity and a broadening customer base.

"We believe the pace of service provider Wi-Fi spending is picking up and the adoption of the Hotspot 2.0 standard by device makers will be a major catalyst to accelerate commercial deployments of Wi-Fi in mobile networks in 2014," he said.

The firm is positive on the technical differentiation of the company and said it appears that the SP Wi-Fi market is turning into a two-horse race with Cisco. Meanwhile, the enterprise side of the business remains "rock-solid" with the company a share gainer.

"We believe the time is right to buy shares of RKUS," the analyst said.

For an analyst ratings summary and ratings history on Ruckus Wireless click here. For more ratings news on Ruckus Wireless click here.

Shares of Ruckus Wireless closed at $13.94 yesterday.

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