Viavi Solutions (VIAV) PT Raised to $14 at MKM Partners Following Solid 4Q
MKM Partners analyst Michael Genovese raised the price target on Viavi Solutions (NASDAQ: VIAV) to $14.00 (from $13.00) while maintaining a Buy rating following the company's 4Q earnings report. 4Q revenues came in at $264mn or $9mn above forecasts. The upside was spread evenly between NE, due to the 5G acquisition, SE, because of good performance in growth products, and OSP, driven by currency re-prints. EPS of $0.14 exceeded $0.10 forecast.
The 1QFY19 revenue guidance of $257mn-$277mn compares to prior $253mn numbers. The company now expects Avcomm/Wireless to be at the upper end of the $205mn-$245mn revenue range it previously gave for FY19 due to strong 5G-related demand.