Needham & Company Upgrades Ceragon Networks (CRNT) to Buy

Needham & Company upgraded Ceragon Networks (NASDAQ: CRNT) from Hold to Buy with a price target of $3.60.

Analyst Alex Henderson comments "Ceragon has been delivering improving results as it has held the line on pricing. As data rates have sharply accelerated Ceragon's superior technology is finally winning price-sensitive telco customers. The strength in demand out of India, improving distribution reach with its partnership with Fujitsu and a new APAC VAR, and smaller wins in the public vertical have created enough demand visibility for Ceragon to de-risk its guidance and outlook for potential disruption associated with a Sprint – T-Mobile merger. Ceragon is also seeing clear demand strength from 5G “densification” programs proving it is a beneficiary of this technology."

For an analyst ratings summary and ratings history on Ceragon Networks click here. For more ratings news on Ceragon Networks click here.

Shares of Ceragon Networks closed at $2.83 yesterday.

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