Market Overview

UPDATE: Piper Jaffray Reduces PT to $13 on JDS Uniphase on Macro Impact to Carrier Spending

Share:
Related JDSU
Morgan Stanley: JDS Uniphase Split Makes Sense, Shares Worth $15
Benzinga's Top #PreMarket Losers

Piper Jaffray reiterates its Overweight rating on JDS Uniphase (NASDAQ: JDSU) and lowers its price target from $14 to $13.

Piper Jaffray notes, "We are lowering our estimates and price target on JDSU shares given weakness from end customers and disappointing guidance from other optical component and test & measurement suppliers. While we continue to believe spending on optical equipment will improve during the 2H of 2012, we are now pushing the ramp further out and lowering estimates. We believe JDSU's valuation currently prices in some of these concerns, but we think the stock will continue to experience short-term downward pressures before evidence of a longer-term recovery begins. As a result, we are maintaining our Overweight rating, but lowering our price target to $13."

JDSU closed at $9.94 a share yesterday.

Latest Ratings for JDSU

DateFirmActionFromTo
May 2015Morgan StanleyInitiates Coverage onEqual-weight
Mar 2015JefferiesMaintainsHold
Jan 2015BarclaysMaintainsEqual-weight

View More Analyst Ratings for JDSU
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

Related Articles (JDSU)

Around the Web, We're Loving...

Get Benzinga's Newsletters