Viavi Solutions (VIAV) PT Raised to $14 at MKM Partners Following Solid 4Q
Get Alerts VIAV Hot Sheet
Rating Summary:
11 Buy, 4 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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MKM Partners analyst Michael Genovese raised the price target on Viavi Solutions (NASDAQ: VIAV) to $14.00 (from $13.00) while maintaining a Buy rating following the company's 4Q earnings report. 4Q revenues came in at $264mn or $9mn above forecasts. The upside was spread evenly between NE, due to the 5G acquisition, SE, because of good performance in growth products, and OSP, driven by currency re-prints. EPS of $0.14 exceeded $0.10 forecast.
The 1QFY19 revenue guidance of $257mn-$277mn compares to prior $253mn numbers. The company now expects Avcomm/Wireless to be at the upper end of the $205mn-$245mn revenue range it previously gave for FY19 due to strong 5G-related demand.
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