Jesup & Lamont Upgrades Ceragon Networks Ltd. (CRNT) to Buy; Raises 2009-10 Estimates
CRNT Hot Sheet
Rating Summary:7 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
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."
To see more analyst ratings on CRNT Click Here.
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."
To see more analyst ratings on CRNT Click Here.
You May Also Be Interested In
- UPDATE: Nomura Securities Upgrades Central European Distribution (CEDC) to Neutral; Strategic Alliance with Russian Standard
- UPDATE: UBS Upgrades Westlake Chemical (WLK) to Neutral; Fairly Valued Now
- Auriga Cuts PT and Estimates on HEICO (HEI); Cautious on Decelerating FSG Growth
Create E-mail Alert Related Categories
UpgradesRelated Entities
Jesup & LamontSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
