Jesup & Lamont Upgrades Ceragon Networks Ltd. (CRNT) to Buy; Raises 2009-10 Estimates

October 27, 2009 9:29 AM EDT

Jesup & Lamont upgrades Ceragon Networks Ltd. (Nasdaq: CRNT) to Buy.

Jesup analyst says, "Now, despite the 30+% move (vs. +10% Nasdaq) since mid July, we see the opportunity as Ceragon can begin rebuilding a track record of sequential consecutive quarterly sales growth (its previous record stands at 28 quarters) where the company’s commitment to and demonstration of execution is almost unrivaled...Most important is the outlook where we now expect that 2Q09 represents the trough and Ceragon should see sequentially improving sales each quarter over the medium to long term...We are raising our 2009 estimates to: $180.9M and $0.18 from $175.1M and $0.13; and 2010 to $226.0M and $0.45 from $219.0M and $0.35."

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