Viavi price target raised to $63 from $53 at B. Riley

B. Riley raised the firm’s price target on Viavi (VIAV) to $63 from $53 and keeps a Buy rating on the shares following the fiscal Q3 beat. The optical industry is experiencing strong demand as hyperscalers build AI infrastructure at a “frantic pace,” which benefits Viavi, the analyst tells investors in a research note. The firm believes Viavi has a “superior investment profile” over transceiver manufacturers.