Hudson Securities Reiterates Buy Rating on Ceragon Networks (CRNT)

Hudson Securities is out with a research report this morning, where it reiterates its Buy rating on Ceragon Networks (NASDAQ: CRNT); it has a $15.00 price target on the stock.

The HS analysts cited the company's recent earnings results, which were mixed. The company reported revenue of $100.3 million, which beat the Street expectations of $96.9 million and HS's $94.7 million estimate.

The company's EPS loss of ($0.02) was in line with HS's estimate and slightly below the Street estimate of $0.01.

As for valuation, the analysts remarked, “Re-iterate our BUY rating, but lowering our price target to $15 from $18, which is based on 15X our 2012 EPS estimate of $1.00.”