UPDATE: Goldman Sachs Initiates JDS Uniphase at Buy with $14 PT on Outlook
Goldman Sachs initiated its rating on JDS Uniphase (NASDAQ: JDSU) with a Buy rating and a price target of $14 per share.
Goldman Sachs noted, "JDSU is a key actor in the optical components, network test and measurement, and anti-counterfeiting solutions markets. We view JDSU as a way to invest into a snap-back in North American carrier capex and improving customer inventories, with some upside potential from currency note redesigns in major currencies. Given the high correlation of JDSU CommTest and CCOP revenues with North American carrier capex, we are forecasting 2HCY12 non-GAAP EPS 8% above consensus, and estimate a CY2011-14E EPS CAGR of 15%."
JDS Uniphase closed at $10.77 on Thursday.
Latest Ratings for JDSU
|Sep 2014||RBC Capital||Upgrades||Sector Perform||Outperform|
|Aug 2014||Argus Research||Downgrades||Buy||Hold|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.