UPDATE: Citigroup Raises Target on JDSU to $19

Citigroup raises its price target on Buy-rated JDSU JDSU to $19, up $4.50, following highlights from the company's analyst day. Citigroup says, "We believed mgt needed to provide a bridge from current margin levels to target operating model. We were favorably impressed with mgt's segment-bysegment detail and timeline. In our view, mgt provided a credible roadmap to significantly higher EPS levels, supported by investment & new product initiatives. Although challenges remain, we like the stock set-up from here." JDSU closed at $14.93 a share on Friday.