Deutsche Bank Upgrades Atheros Communications (ATHR) to Buy; Price Target & Estimates Increased

June 4, 2009 9:12 AM EDT

Deutsche Bank upgrades Atheros Communications (Nasdaq: ATHR) to Buy. Price target $25.

Deutsche analyst says, "Following our checks at Computex and a meeting with Atheros management we see Atheros returning to its top line growth. We think share gains across product lines and improving PC order trends should drive an improvement in earnings. With $4.64 in cash, the stock is now attractively valued on our revised EPS estimates...The PC business cycle shows signs of at least stabilizing if not improving. In this environment, we think Atheros can see top line growth. While macro remains a concern, with little industry visibility, we think the positive indicators outweigh the negative."

To see more analyst ratings on ATHR Click Here.

Atheros Communications, Inc. (Atheros) is engaged in providing technologies for the wireless and wired communications products that are used by a broad base of customers, including manufacturers of personal computers (PCs), networking equipment and consumer electronics devices.

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