Northland Securities analyst Tim Savageaux maintained a Buy rating on Viavi Solutions (VIAV) today and set a price target of $16. The company’s shares closed yesterday at $13.18.
Savageaux noted:
“We find the recent modest pullback an attractive entry point, with minimal Huawei exposure in 5G and the potential to benefit from share shift to competitors. Key Points We see upside potential for VIAV stemming from greater than expected fiber optic test sales into Tier 1s carriers and optical OEMs, noting very strong growth (18% seq, 53% y/y combined) in ATT/VZ revenue in CIEN’s FQ2 (April) following a similarly strong performance (24% seq, 30% y/y) at DY. We see this as similar to the dynamic heading into VAIV’s DecQ report in early January, with fiber test competitor EXFO reporting a 1.30 book to bill in their off quarter (Nov) FQ2 with subsequent NSE upside for VAIV in FQ2.”
According to TipRanks.com, Savageaux is a 2-star analyst with an average return of 0.5% and a 43.6% success rate. Savageaux covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, DASAN Zhone Solutions Inc, and Applied Optoelectronics.
Viavi Solutions has an analyst consensus of Moderate Buy, with a price target consensus of $14.92.
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Based on Viavi Solutions’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.8 million. In comparison, last year the company had a GAAP net loss of $8.7 million.
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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.
