Needham analyst Ryan Koontz maintained a Buy rating on Viavi Solutions today and set a price target of $15.00.
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Ryan Koontz has given his Buy rating due to a combination of factors including Viavi Solutions’ recent financial performance and strategic positioning. The company exceeded consensus revenue and EPS estimates, showing a 2% and $0.01 beat, respectively, and provided guidance for the upcoming fiscal quarter that is significantly above expectations, with a 7% and $0.02 increase.
Viavi’s notable year-over-year revenue growth in its Network and Service Enablement (NSE) and Optical Security and Performance (OSP) segments, at 15% and 17% respectively, further supports the positive outlook. The growth is attributed to an improving capital expenditure environment among communication service providers, as well as increased involvement in the data center and defense sectors. Additionally, the anticipated completion of the Spirent divestiture is expected to contribute positively to earnings, reinforcing the Buy rating and the $15 price target.
In another report released today, Rosenblatt Securities also maintained a Buy rating on the stock with a $15.00 price target.