In a report released today, Dave Kang from B.Riley FBR reiterated a Buy rating on Viavi Solutions (NASDAQ: VIAV), with a price target of $13. The company’s shares opened today at $11, close to its 52-week high of $11.02.
Kang said:
“Viavi Solutions (VIAV) reports F4Q results on a CC at 4:30PM ET (Dial-in: ID#: 3471279). We expect F4Q/F1Q results/outlook to be in line/in line with the potential for upside. After a brief pause in F4Q due to seasonality, we expect 3D sensing (3DS) to re-accelerate in F1Q. With the 3DS feature proliferating to multiple products, 3DS should demonstrate strong growth going forward. The acquisition of Cobham’s T&M (Test & Measurement) asset was very timely, as 5G is gearing to ramp. Overall end-market demand appears to trending up. Demand from telecom end market appears to be improving, optical demand has clearly firmed up based on the latest industry data, and even the wireless segment seems to be gaining momentum heading into C2H as the industry gears up for 5G.”
According to TipRanks.com, Kang is a 5-star analyst with an average return of 18.1% and a 64.6% success rate. Kang covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Acacia Communications, and Lumentum Holdings.
Viavi Solutions has an analyst consensus of Strong Buy, with a price target consensus of $12.33, representing a 12.1% upside. In a report released today, Needham also upgraded the stock to Buy with a $13.50 price target.
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The company has a one-year high of $11.02 and a one-year low of $8.34. Currently, Viavi Solutions has an average volume of 1.83M.
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Viavi Solutions, Inc. engages in the provision of network test, monitoring and assurance solutions to communications service providers, enterprises, and their ecosystems. It operates through the following business segments: Network Enablement, Service Enablement, and Optical Security and Performance Products.
