MKM Partners Cuts Price Target on JDS Uniphase (JDSU), Checks show Softness in Wireline
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Price: $10.87 --0%
Rating Summary:
10 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
10 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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MKM Partners reiterated a Buy JDS Uniphase (NASDAQ: JDSU) but cut their price target to $14.00 (from $15.00).
“We expect solid in-line results from JDSU next week, but are cutting the upside we previously modeled on sluggishness in wireline CommTest demand,” said analyst and Managing Director at MKM, Michael Genovese.
“While we now see less upside to near-term numbers, we think JDSU’s earnings report next Tuesday after the close will be good enough to support the stock near current levels. We are maintaining our Buy rating based on the expectation of better carrier capex in 4QCY12 and CY13, and strong earnings growth in FY13,” he added.
MKM checks into the quarter suggest strength in wireless CommTest but softness in wireline CommTest, which makes up two-thirds of CommTest and roughly 30% of overall company sales.
MKM trimmed 4QFY12 (June) estimates to near consensus at $424mn/$0.12 from $430mn/$0.13.
For an analyst ratings summary and ratings history on JDS Uniphase click here. For more ratings news on JDS Uniphase click here.
Shares of JDS Uniphase closed at $10.77 yesterday.
“We expect solid in-line results from JDSU next week, but are cutting the upside we previously modeled on sluggishness in wireline CommTest demand,” said analyst and Managing Director at MKM, Michael Genovese.
“While we now see less upside to near-term numbers, we think JDSU’s earnings report next Tuesday after the close will be good enough to support the stock near current levels. We are maintaining our Buy rating based on the expectation of better carrier capex in 4QCY12 and CY13, and strong earnings growth in FY13,” he added.
MKM checks into the quarter suggest strength in wireless CommTest but softness in wireline CommTest, which makes up two-thirds of CommTest and roughly 30% of overall company sales.
MKM trimmed 4QFY12 (June) estimates to near consensus at $424mn/$0.12 from $430mn/$0.13.
For an analyst ratings summary and ratings history on JDS Uniphase click here. For more ratings news on JDS Uniphase click here.
Shares of JDS Uniphase closed at $10.77 yesterday.
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