Needham & Company Reiterates a 'Buy' on Ikanos Communications (IKAN); Raising PT & Estimates on Demand Pick-up

Needham & Company reiterates a 'Buy' on Ikanos Communications (NASDAQ: IKAN) price target raised from $1.25 to $1.40.

Analyst, N. Quinn Bolton, said, "Ikanos’ 1Q12 results and 2Q12 guidance exceeded our expectations. More important, carrier demand for Ikanos’ high performance solutions is growing, the company’s backlog has strengthened considerably and visibility has increased. The company’s next generation Vx185 and Vx183 communications have been released to production and the initial volume ramp commences this quarter. NodeScale Vectoring continues to significantly outperform the competition in carrier lab trials and the performance gap only widens when paired with the new Vx185 and Vx183 processors. Simply stated, management’s tone and the new product outlook is as good as we have seen them in well over a year."

Raising FY12 EPS estimate from (0.32) to (0.19) and FY13 from (0.14) to (0.13).

For an analyst ratings summary and ratings history on Ikanos Communications click here. For more ratings news on Ikanos Communications click here.

Shares of Ikanos Communications closed at $0.82 yesterday.

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