UPDATE: Credit Suisse Upgrades JDS Uniphase to Outperform

Credit Suisse raises its rating on JDS Uniphase

and raises its price target to $17 from $15 a share on the company's anticipated margin improvement plan. Credit Suisse says, "We are upgrading JDSU from Neutral to Outperform owing to (1) significant margin upside potential in its CommsTest and optical components segments, and (2) likely revenue upside drivers from JDSU's less well known businesses (fiber lasers, gesture recognition, and color shifting inks). Anticipating clarity on these topics at the company's upcoming analyst day we adjust our model; C12 remains $0.78 (consensus is $0.76) and raise C13 from $1.02 to $1.13 (consensus is $1.05)." JDSU closed at $13.79 a share yesterday.