Canaccord Genuity Reiterates a 'Buy' on Ceragon Networks (CRNT); NERA Integration on Track, but Higher Opex Impacts Outlook
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Price: $2.12 +0.95%
Rating Summary:
9 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
9 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Canaccord Genuity reiterates a 'Buy' on Ceragon Networks (NASDAQ: CRNT), PT lowered to $16.
Canaccord analyst says, "While we anticipate lower 2011 EPS versus 2010 levels due to the integration of NERA Networks, we believe management is on track with the integration and will execute on realizing synergies. We are encouraged management reiterated its longer-term margin targets. We believe Ceragon Networks is well positioned to benefit from increased carrier backhaul spending and should post strong EPS growth in 2012. Due to higher operating expenses, we are slightly lowering 2012 EPS estimates."
"Management reiterated its long-term target of $150M in quarterly sales with a
10% OM exiting 2012. Due to slightly higher operating expenses, we are
lowering our 2011 pro forma EPS estimate from $0.41 to $0.17 and our 2012
estimate from $1.03 to $0.97."
For more ratings news on Ceragon Networks click here and for the rating history of Ceragon Networks click here.
Shares of Ceragon Networks closed at $10.84 yesterday.
Canaccord analyst says, "While we anticipate lower 2011 EPS versus 2010 levels due to the integration of NERA Networks, we believe management is on track with the integration and will execute on realizing synergies. We are encouraged management reiterated its longer-term margin targets. We believe Ceragon Networks is well positioned to benefit from increased carrier backhaul spending and should post strong EPS growth in 2012. Due to higher operating expenses, we are slightly lowering 2012 EPS estimates."
"Management reiterated its long-term target of $150M in quarterly sales with a
10% OM exiting 2012. Due to slightly higher operating expenses, we are
lowering our 2011 pro forma EPS estimate from $0.41 to $0.17 and our 2012
estimate from $1.03 to $0.97."
For more ratings news on Ceragon Networks click here and for the rating history of Ceragon Networks click here.
Shares of Ceragon Networks closed at $10.84 yesterday.
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