UBS Reiterates a 'Buy' on Cavium Networks (CAVM); New Chip Doubles Core TAM; Raising PT
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Price: $86.23 --0%
Rating Summary:
12 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS reiterates a 'Buy' on Cavium Networks (NASDAQ: CAVM) price target raised from $34.50 to $38.00.
UBS analyst says, "This past week, Cavium announced Octeon III, a new 28nm 48-core processor, which we believe represents the most important product in Cavium’s history, as we estimate it could double its core total addressable market (TAM) to $6bn. While material Octeon III revenue is not likely until 2015, this TAM expansion drives a more favorable outlook for the sustainability of growth. As a result, we raise our longer-term growth estimates and PT to $38. W.ith growth expected to resume in 2Q on the strength of new designs, we reiterate our rating."
For an analyst ratings summary and ratings history on Cavium Networks click here. For more ratings news on Cavium Networks click here.
Shares of Cavium Networks closed at $33.48 yesterday.
UBS analyst says, "This past week, Cavium announced Octeon III, a new 28nm 48-core processor, which we believe represents the most important product in Cavium’s history, as we estimate it could double its core total addressable market (TAM) to $6bn. While material Octeon III revenue is not likely until 2015, this TAM expansion drives a more favorable outlook for the sustainability of growth. As a result, we raise our longer-term growth estimates and PT to $38. W.ith growth expected to resume in 2Q on the strength of new designs, we reiterate our rating."
For an analyst ratings summary and ratings history on Cavium Networks click here. For more ratings news on Cavium Networks click here.
Shares of Cavium Networks closed at $33.48 yesterday.
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