UBS Upgrades JDS Uniphase (JDSU) to Buy; Attractive Valuation Plus Strong Tailwind

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UBS upgraded JDS Uniphase (NASDAQ: JDSU) from Neutral to Buy with a price target of $14.50.

Analyst, Nikos Theodosopoulos, said, "We upgrade JDS Uniphase to a Buy rating given its attractive valuation after the recent pullback in the stock, and our anticipation of a 2H12 service provider capex ramp which will provide a strong tailwind for both the CommTest and Optical businesses, or ~80% of JDSU sales...In our analysis of the optical component market we find that it has now undershipped its systems end market for 4-5 quarters, having declined 16% during that period...Consensus for JDSU Sep QoQ growth is +1.6% vs a group avg of +6% for 12 telco dependent vendors, with Calix (Nasdaq: CALX) at the high end +11% and Tellabs (Nasdaq: TLAB) at the low end +2.1%."

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 $10.81 yesterday, with a 52 week range of $8.59-$22.30.

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