Auriga Resumes Cavium Networks (CAVM) at Buy
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Price: $32.18 -1.08%
Rating Summary:
9 Buy, 10 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 24 | New: 29
Rating Summary:
9 Buy, 10 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 24 | New: 29
Trade CAVM Now!
Auriga resumes coverage on Cavium Networks (Nasdaq: CAVM) with a Buy rating and $34 price target.
The firm comments, "We view CAVM as a secular growth story with the potential to double revenue in 3-4 years even if its target markets -- communications and consumer -- stay flat. Competition is mounting in the multi-core processor segment, but our discussions with industry experts suggest that CAVM will maintain its design win momentum over the next 1-2 years. Our enthusiasm is somewhat tempered by checks that suggest slowing demand in the communication equipment food chain -- this drives our H111 estimates below consensus. However, we see risk/reward skewed to the upside, particularly for longer-term oriented investors, and would use any weakness in the stock if consensus estimates move lower to add to positions."
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The firm comments, "We view CAVM as a secular growth story with the potential to double revenue in 3-4 years even if its target markets -- communications and consumer -- stay flat. Competition is mounting in the multi-core processor segment, but our discussions with industry experts suggest that CAVM will maintain its design win momentum over the next 1-2 years. Our enthusiasm is somewhat tempered by checks that suggest slowing demand in the communication equipment food chain -- this drives our H111 estimates below consensus. However, we see risk/reward skewed to the upside, particularly for longer-term oriented investors, and would use any weakness in the stock if consensus estimates move lower to add to positions."
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