Market Overview

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

Related JDSU
JDSU Issues Restricted Stock Units in Connection With Acquisition of Time-Bandwidth Products
Top 4 Mid-Cap Stocks In The Communication Equipment Industry With The Highest EPS
Meet Nasdaq Composite 2.0 (Fox Business)

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.

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


Most Popular

Related Articles (JDSU)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free