Jefferies Upgrades ARRIS Group (ARRS) to Buy

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Jefferies upgraded ARRIS Group (NASDAQ: ARRS) from Hold to Buy with a price target of $16.00 (from $13.00).

Analyst James Kisner said "We’re upgrading ARRIS shares from Hold to Buy given our checks suggesting: 1) strength in shipments of Wi-Fi-enabled CPE is likely to continue; 2) ARRIS’ ability to win Tier 1 STB deals for their Moxi gateway is increasing; and 3) nearterm pricing risk on the CMTS business is likely less than we previously expected."

For an analyst ratings summary and ratings history on ARRIS Group click here. For more ratings news on ARRIS Group click here.

Shares of ARRIS Group closed at $12.87 yesterday, with a 52 week range of $9.60-$14.20.

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