Stifel Starts Viavi Solutions (VIAV) at Hold
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Stifel analyst Ruben Roy initiates coverage on Viavi Solutions (NASDAQ: VIAV) with a Hold rating and a price target of $12.00.
The analyst comments "We are initiating coverage of Viavi Solutions, Inc. (VIAV) with a Hold rating and $12 target price. VIAV is a global provider of network test, monitoring and assurance solutions for communications service providers (CSPs), enterprises, network equipment manufacturers (NEMs), original equipment manufacturers (OEMs), governments and avionic customers. VIAV is also a leading provider of light management solutions for anti-counterfeiting, consumer electronics, industrial, government and automotive markets. While we are positive on the longer-term growth prospects for the Network and Service enablement markets, we believe VIAV’s large service provider customers have slowed near-to-medium term spending plans, given broader macro headwinds. We expect a cautious spending environment to continue into 2023 and visibility into the timing and shape of a recovery is likely to remain limited over the next few quarters, in our view."
Shares of Viavi Solutions closed at $11.33 yesterday.
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