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Goldman Sachs Starts Ruckus Wireless (RKUS) at Neutral

December 11, 2012 6:46 AM EST Send to a Friend
Get Alerts RKUS Hot Sheet
Price: $13.47 +0.82%

Rating Summary:
    14 Buy, 7 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 16 | Down: 12 | New: 33
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Goldman Sachs initiates coverage on Ruckus Wireless (NYSE: RKUS) with a Neutral. PT $20.00.

The firm comments, "We see Ruckus as able to deliver sector-leading top-line growth (CY11-15E CAGR of 38%) on strong secular growth in the Service Provider (SP) and Enterprise Wi-Fi segments, with potential gross margin expansion and operating leverage driving even faster earnings growth (CY11-15E net income CAGR of 59%). However, the sharp rise in the shares since the Nov. 16 close (+55% vs. S&P +4%) makes the risk/reward more balanced at current levels in our view, with RKUS now at a CY13 EV/S multiple of 5.9X."

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 $18.96 yesterday.




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