Jefferies Reiterates a 'Buy' on Cavium Networks (CAVM); Beat and Raise...Nice!
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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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Jefferies reiterates a 'Buy' on Cavium Networks (NASDAQ: CAVM) price target of $37.00 (from $35.00).
Analyst, Sundeep Bajikar, said, "Positive Q2 results and Q3 guidance demonstrate not just the strength in Cavium's product cycles in a difficult macro environment, but also highlight solid execution in: 1) wireless base station, 2) Cisco recovery, 3) OpEx controls, and 4) disruptive new products. We expect renewed investor interest and short-covering to drive nice near-term upside for the stock."
Raises Q3 EPS estimate from $0.05 to $0.11, FY12 from $0.20 to $0.34 and FY13 from $0.94 to $1.00.
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 $27.55 yesterday.
Analyst, Sundeep Bajikar, said, "Positive Q2 results and Q3 guidance demonstrate not just the strength in Cavium's product cycles in a difficult macro environment, but also highlight solid execution in: 1) wireless base station, 2) Cisco recovery, 3) OpEx controls, and 4) disruptive new products. We expect renewed investor interest and short-covering to drive nice near-term upside for the stock."
Raises Q3 EPS estimate from $0.05 to $0.11, FY12 from $0.20 to $0.34 and FY13 from $0.94 to $1.00.
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 $27.55 yesterday.
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