Stifel Nicolaus Thinks Casa Systems Inc’s Stock is Going to Recover


Stifel Nicolaus analyst Patrick Newton initiated coverage with a Buy rating on Casa Systems Inc (Other OTC: CASA) today and set a price target of $18. The company’s shares closed yesterday at $14.19, close to its 52-week low of $11.26.

According to TipRanks.com, Newton is ranked #255 out of 4892 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Casa Systems Inc with a $17.67 average price target.

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Based on Casa Systems Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $21.42 million. In comparison, last year the company had a net profit of $24.32 million.

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Casa Systems, Inc. engages in the provision and development of digital cable video and broadband services. It also offers cable, Wi-Fi, and mobile networks solutions. The company was founded by Jerry Guo in 2003 and is headquartered in Andover, MA.

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