Ikanos Communications (IKAN) PT Lifted to $0.65 at Needham & Company

Needham & Company analyst N. Quinn Bolton reiterated a Buy rating and boosted his price target on Ikanos Communications (NASDAQ: IKAN) to $0.65 (from $0.50).

Bolton commented, "In conjunction with the company’s presentation at the Needham Growth Conference and its release of preliminary 4Q14 results and 1Q15 guidance, we are taking a fresh look at Ikanos and are introducing 2016 estimates. We believe the current IKAN share price does not properly value the company’s collaboration agreement with Alcatel-Lucent to develop a G.fast solution that will be used and distributed by Alcatel-Lucent, or the company’s position to benefit from the expected G.fast upgrade cycle in Japan and Korea where IKAN holds nearly 100% share in VDSL. With the deployment of G.fast solutions expected to commence in 2016, we believe Ikanos is poised for significant revenue growth over the next several years. We raise our PT to $0.65, or an EV of 1.5x 2016E sales, from $0.50."

For an analyst ratings summary and ratings history on Ikanos Communications click here. For more ratings news on Ikanos Communications click here.

Shares of Ikanos Communications closed at $0.31 yesterday.

You May Also Be Interested In

• JPMorgan Downgrades Dassault Systemes SE (DSY:FP) (DASTY) to Neutral
• HelloFresh SE (HFG:GR) (HLFFF) PT Raised to EUR8 at JPMorgan
• WPP Plc (WPP:LN) (WPP) PT Raised to GBP9 at JPMorgan