Viavi Solutions (VIAV) PT Raised to $9.50 at Jefferies Following 2Q Report
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Jefferies raised its price target on Viavi Solutions (NASDAQ: VIAV) to $9.50 (from $8.50) while maintaining a Hold rating. VIAV reported FQ2 revenue of $206.5, above Consensus of $197.7M. The beat was driven by better-than-expeced NSE revenue of $157.6M, above Consensus of $149.1M. EPS hit $0.10, above Consensus of $0.07 The EPS upside came from the revenue strength and expense leverage.
Analyst James Kisner commented, "We remain cautiously optimistic about a potential rebound in demand by carriers, improved growth prospects driven by 3D sensing, and margin expansion driven by self-help initiatives. However, a relatively full-valuation and uncertain timing of these catalysts keep us on the sidelines."
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