Canaccord Genuity Reiterates a 'Buy' on Ceragon Networks (CRNT); Strong Sales Offset By Mix
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Price: $2.09 -1.42%
Rating Summary:
9 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
9 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Ceragon Networks (NASDAQ: CRNT), but lowers price target from $16 to $14.
Canaccord analyst, T. Michael Walkley, said, "While the integration of NERA networks has resulted in 2011E EPS lower than 2010 levels, we believe management remains on track with its integration plans. In fact, 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. We reiterate our BUY rating, but given comparable group multiple compression, we are lowering our price target."
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 $9.54 yesterday.
Canaccord analyst, T. Michael Walkley, said, "While the integration of NERA networks has resulted in 2011E EPS lower than 2010 levels, we believe management remains on track with its integration plans. In fact, 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. We reiterate our BUY rating, but given comparable group multiple compression, we are lowering our price target."
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 $9.54 yesterday.
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