Needham analyst Ryan Koontz raised the firm’s price target on Viavi (VIAV) to $20 from $16 and keeps a Buy rating on the shares. The company beat consensus Q1 estimates for revenue and earnings and guided organic revenue above consensus by 4%, also guiding stub Q2 revenue from Spirent above previous expectations, the analyst tells investors in a research note. NSE – Network and Service Enablement – benefited from Viavi exposure to the data center ecosystem, the firm added.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VIAV: