Viavi Solutions (VIAV) Gets a Buy Rating from B.Riley FBR


B.Riley FBR analyst Dave Kang maintained a Buy rating on Viavi Solutions (NASDAQ: VIAV) today and set a price target of $13.50. The company’s shares opened today at $10.55.

According to TipRanks.com, Kang is a 5-star analyst with an average return of 18.3% and a 66.1% success rate. Kang covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Acacia Communications, and Lumentum Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Viavi Solutions with a $12.50 average price target, implying a 18.5% upside from current levels. In a report issued on August 13, Needham also upgraded the stock to Buy with a $13.50 price target.

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Based on Viavi Solutions’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $264 million and GAAP net loss of $28.8 million. In comparison, last year the company had a net profit of $13.7 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.

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