Oppenheimer analyst George Iwanyc maintained a Buy rating on Ceragon Networks (CRNT) today and set a price target of $4.50. The company’s shares closed on Friday at $4.12.
Iwanyc wrote:
“We hosted investor meetings with Ceragon’s management. Overall, we come away comfortable in the company’s best-of-breed strategy, execution, and competitive position, and highlight these takeaways: (1) It’s our impression that trends are largely unchanged across regions with North America, APAC (outside of India), and Africa opportunities positively biased. Meanwhile, management reiterated potential for some YoY moderation in Management’s positive on the 5G opportunity, seeing it as a potential driver for market share gains and new use cases. That said, it’s not viewed as a big 2019 contributor but more as a 2020-to-2023 evolution. Additional near-term points to watch are updates regarding the pending T-Mobile/Sprint merger and the completion of Vodafone Idea’s microwave RFP in India. Maintain Outperform.”
According to TipRanks.com, Iwanyc is a 3-star analyst with an average return of 3.6% and a 43.8% success rate. Iwanyc covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Juniper Networks, and Pure Storage Inc.
Currently, the analyst consensus on Ceragon Networks is a Moderate Buy with an average price target of $4.45.
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Ceragon Networks’ market cap is currently $321.9M and has a P/E ratio of 17.17. The company has a Price to Book ratio of 2.21.
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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.
