UPDATE: Jefferies Ups Target to $18 on JDS Uniphase
Jefferies maintains its BUy rating on JDS Uniphase (NASDAQ: JDSU) and raises its price target to $18 from $14.50 a share on solid Q4 results.
Jefferies says, "JDSU reported better-than-expected fiscal Q2 results as the impact of the recent floods in Thailand on the company's optical components business was far less than expected. We believe JDSU will continue to surprise investors to the upside particularly as it benefits from an improving capex environment in N. America, and the Thai Floods and 2011 inventory correction in optical components become a distant memory."
JDSU closed at $13.13 a share yesterday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.