Roth Capital keeps a Buy rating and $38 price target on Aviat Networks (AVNW) while noting that the stock’s 13% decline following a short thesis by Glasshouse Research yesterday is “sorely misplaced”. The report broke zero new ground and is dated in its analysis as DSOs, or Days Sales Outstanding, working capital, and free cash flow demonstrated signs of improvement in the December quarter, the analyst tells investors in a research note. Roth adds it is positive on Aviat’s healthy core business, the opportunity with Verizon (VZ) MDU – Multi-Dwelling Unit market – progressing, and potential Nokia (NOK) optionality.
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