UPDATE: Stifel Nicolaus Raises PT to $18 on Ixia; Resilience to Macro Headwinds
Stifel Nicolaus reiterated its Buy rating on Ixia (NASDAQ: XXIA) and raised its price target from $17 to $18.
Stifel Nicolaus commented, "Although not immune to macro challenges, XXIA appears to be admirably weathering broader macro trends through new product momentum (LTE, WiFi, and 40/100G), exposure to high growth markets (data centers, cloud computing, SDN, and security), and a strengthened portfolio providing end-to-end solutions. … Taking the midpoint of 4Q revenue guidance, Ixia is targeting core revenue of about $93 million, or an increase of roughly 5% q/q, with the positive outlook buoyed by a book-to-bill of greater than 1.0x exiting the quarter."
Ixia closed at $15.40 on Wednesday.
Latest Ratings for XXIA
|Jul 2016||Stifel Nicolaus||Upgrades||Hold||Buy|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.