In a report released today, George Iwanyc from Oppenheimer reiterated a Buy rating on Ceragon Networks (CRNT), with a price target of $4.50. The company’s shares opened today at $3.69.
Iwanyc said:
“Ceragon reported a strong 3Q18 ahead of expectations, lifted by early 5G demand in the US and improving 4G trends in LatAM and Africa. India remained an important contributor, though the geographic mix realignment (less India) contributed to a strong GM (easing supply-chain dynamics and high-margin services mix also helped). Positively, bookings increased in most regions during 3Q, and overall visibility extends into 2019 (note 1Q seasonality and potential QtQ lumpiness should be anticipated). We remain bullish on Ceragon’s overall positioning and see potential for long-term upside from share gains driven by its IP-20 technology differentiation (spectrum efficiency, carrier aggregation, TCO advantages), all-outdoor leadership, and best- of-breed sales execution. We also highlight a positive wild card related to Sprint/T- Mobile (note merger/timing uncertainties).”
According to TipRanks.com, Iwanyc is a 3-star analyst with an average return of 9.2% and a 72.7% success rate. Iwanyc covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Juniper Networks, and Pure Storage Inc.
Ceragon Networks has an analyst consensus of Moderate Buy, with a price target consensus of $4.50.
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The company has a one-year high of $4.15 and a one-year low of $1.64. Currently, Ceragon Networks has an average volume of 402.9K.
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Ceragon Networks Ltd. engages in the provision of wireless backhaul solutions. Its products include radio units, management systems, small cell hauling, packet and hybrid microwave, and long haul solutions. The company renders transmission capacity to mobile and fixed-line carriers, and private network operators.
