Barclays Maintains an 'Equalweight' on NETGEAR (NTGR); Bucking the Macro in a Solid 3Q
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Price: $23.82 --0%
Rating Summary:
6 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 9
Rating Summary:
6 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 9
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Barclays maintains an 'Equalweight' on NETGEAR (NASDAQ: NTGR) price target�raised�$3 to�$38.00.
Barclays analyst says, "A slight guidance beat is a victory given the macro: Despite economic headwinds during NTGR's key back to school season, the company edged past the high end of sales guidance and delivered an EPS beat. Our low-end estimates rise to consensus."
"4Q guidance appears conservative, $2bn revenue target retained: Management is cautiously optimistic for the holiday selling period and expects further share gains. This makes 4Q guidance of $300-310mn seem overly cautious. NTGR retains its expectation of $2bn in sales in 2014, which implies ~18% growth...Our EPS rises to consensus: Our 2012 EPS forecast rises from our low end $2.35 to $2.74, in line with consensus. Our forecast assumes 15% sales growth and an 11.5% margin."
For more ratings news on NETGEAR click here and for the rating history of NETGEAR click here.
Shares of NETGEAR closed at $33.08 yesterday.
Barclays analyst says, "A slight guidance beat is a victory given the macro: Despite economic headwinds during NTGR's key back to school season, the company edged past the high end of sales guidance and delivered an EPS beat. Our low-end estimates rise to consensus."
"4Q guidance appears conservative, $2bn revenue target retained: Management is cautiously optimistic for the holiday selling period and expects further share gains. This makes 4Q guidance of $300-310mn seem overly cautious. NTGR retains its expectation of $2bn in sales in 2014, which implies ~18% growth...Our EPS rises to consensus: Our 2012 EPS forecast rises from our low end $2.35 to $2.74, in line with consensus. Our forecast assumes 15% sales growth and an 11.5% margin."
For more ratings news on NETGEAR click here and for the rating history of NETGEAR click here.
Shares of NETGEAR closed at $33.08 yesterday.
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