Needham & Company Maintains a 'Buy' on Aviat Networks (AVNW); Solid 1QF12 Results, But Mixed Outlook; Glutton For Punishment or Patient?
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Price: $22.15 +1.51%
Rating Summary:
8 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Aviat Networks (NASDAQ: AVNW) price target lowered $1 to $3.50.
Needham analyst says, "We’ve contemplated downgrading AVNW shares for the last two quarters, but in each case were dissuaded by seemingly trough valuation levels (e.g., a 0.15x EV/F12 sales last Q). Unfortunately, the shares have proceeded to find new, lower “trough” levels each quarter, bringing us to a
current share price of just over $2.00 and an EV/F12 sales multiple of 0.10x. While acknowledging the possibility of a “value trap”, and the challenges the company faces on the macro, competitive and now Thailand fronts, AVNW appears to be at nearly a cash break-even operating level and to have the vast majority of its seemingly serial restructuring behind it. As such we maintain our Buy for patient, investors."
For more ratings news on Aviat Networks click here and for the rating history of Aviat Networks click here.
Shares of Aviat Networks closed at $2.07 yesterday.
Needham analyst says, "We’ve contemplated downgrading AVNW shares for the last two quarters, but in each case were dissuaded by seemingly trough valuation levels (e.g., a 0.15x EV/F12 sales last Q). Unfortunately, the shares have proceeded to find new, lower “trough” levels each quarter, bringing us to a
current share price of just over $2.00 and an EV/F12 sales multiple of 0.10x. While acknowledging the possibility of a “value trap”, and the challenges the company faces on the macro, competitive and now Thailand fronts, AVNW appears to be at nearly a cash break-even operating level and to have the vast majority of its seemingly serial restructuring behind it. As such we maintain our Buy for patient, investors."
For more ratings news on Aviat Networks click here and for the rating history of Aviat Networks click here.
Shares of Aviat Networks closed at $2.07 yesterday.
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