BWS Financial Maintains a 'Buy' on NETGEAR (NTGR); Buying Opportunity for Steady Growth

BWS Financial maintains a 'Buy' on NETGEAR (NASDAQ: NTGR) price target of $52.

BWS Financial analyst says, "NTGR was able to buck the seasonal downtrend associated with the second quarter by posting a sequential increase in revenue. NTGR posted revenue of $291.2 million, which included a one-time $10 million revenue benefit from a service provider...From our standpoint, the business has not changed to prevent NTGR in hitting our price target of $52."

"The initial negative reaction to the earnings report is creating a buying opportunity we thought would not develop. Unfortunately, NTGR runs a business where the next catalyst is likely to be the third quarter earnings report, which puts the stock in a trading range at these lower levels for the next three months."

For more ratings news on NETGEAR click here and for the rating history of NETGEAR click here.

Shares of NETGEAR closed at $36.61 yesterday.

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