B.Riley FBR Believes Viavi Solutions (VIAV) Won’t Stop Here


In a report released today, Dave Kang from B.Riley FBR maintained a Buy rating on Viavi Solutions (VIAV), with a price target of $14.50. The company’s shares closed yesterday at $13.30, close to its 52-week high of $13.48.

Kang observed:

“Viavi Solutions (VIAV) will release its F3Q results on Thursday, May 2nd, AMC and will host a CC at 4:30pm ET (Dial-in: ID#: 3083349). We expect F3Q/F4Q results/outlook to be in-line or slightly better. We are incrementally confident heading into the print based on positive 3D sensing (3DS) commentary from ams AG (AMS-SWX). Furthermore, we believe the company is strategically positioned to capitalize on the 5G cycle through its timely acquisition of Cobham, which we estimate is tracking ahead of management’s initial forecast. Our $14.50 PT, is based on a P/E multiple of 21x our FY20 EPS estimates, in line with the comp group.”

According to TipRanks.com, Kang is a 5-star analyst with an average return of 20.8% and a 66.3% success rate. Kang covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Acacia Communications, and Luna Innovations Inc.

Currently, the analyst consensus on Viavi Solutions is a Strong Buy with an average price target of $14.75.

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The company has a one-year high of $13.48 and a one-year low of $9.12. Currently, Viavi Solutions has an average volume of 2.19M.

Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is negative on the stock.

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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.

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