Susquehanna upgrades Viavi to Positive on bottoming of earnings

Susquehanna upgraded Viavi (VIAV) to Positive from Neutral with a price target of $15, up from $10. The firm believes the company’s earnings have bottomed amid increased fiber adoption for artificial intelligence application. The change in smartphone form factor and Sprient acquisition should drive further upside for Viavi shares, the analyst tells investors in a research note. Susquehanna believes the company’s near-term booking trends by service providers are encouraging.