Jefferies Maintains a 'Hold' on ARRIS Group (ARRS); MOXI Commentary Shows Moxie, but 4Q Guidance Disappoints

Jefferies maintains a 'Hold' on ARRIS Group (NASDAQ: ARRS) price target of $11.00.

Jefferies analyst says, "ARRIS posted mixed 3Q results, with revenues on the low side of Street expectations but EPS in-line with Consensus. Commentary around the company’s recently-launched MOXI Gateway was incrementally positive, but Q4 guidance was disappointing."

"For 2012, we’re now looking for revenue and EPS of $1.25 billion and $0.70 versus our prior estimates of $1.20 billion and $0.85, respectively. While we’ve increased our revenue expectation for full-year 2012 on higher sales of the MOXI Media Gateway (we’re looking for $184 million versus $100 million previously), this is offset by a reduction in our expectation for 2012 CMTS revenue and gross margins."

For more ratings news on ARRIS Group click here and for the rating history of ARRIS Group click here.

Shares of ARRIS Group closed at $10.92 yesterday.

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