Market Overview

UPDATE: Piper Jaffray Initiates Ruckus Wireless with Overweight on Attractive Entry Point

Related RKUS
UPDATE: Morgan Stanley Initiates Coverage On Ruckus Wireless Inc On Market Overestimation
Week Concludes With S&P 500 Below 2,000; Dow Below 17,000
Mid-Market Report: Lockheed Buying Astrotech Space Business (Fox Business)

In a report published Tuesday, Piper Jaffray analyst Auguste Gus Richard initiated coverage on Ruckus Wireless (NYSE: RKUS) with an Overweight rating and $17.00 price target.

In the report, Piper Jaffray noted, “Shares have reached new lows due to a Q1 miss and recent lockup release. However, we see this as an attractive entry point ahead of a number of growth drivers. We believe service provider Wi-Fi is taking off as operators move to deploy carrier-grade Wi-Fi in dense settings to handle an ever growing tsunami of data. In addition, we believe new standards like Hotspot 2.0 will simplify the use of Wi-Fi by consumers. We expect the company to announce a number of service provider deals over the next several quarters and deployments next year will act as a catalyst for shares. Moreover, a lot of risk has been eliminated from estimates. While the space will be competitive, Ruckus, as a pure play, is well positioned with a strong product portfolio to benefit from the growth in Wi-Fi offloads.”

Ruckus Wireless closed on Monday at $12.62.

Latest Ratings for RKUS

DateFirmActionFromTo
Sep 2014SunTrust Robinson HumphreyInitiates Coverage onNeutral
Sep 2014Morgan StanleyInitiates Coverage onUnderweight
Sep 2014Buckingham ResearchDowngradesBuyNeutral

View More Analyst Ratings for RKUS
View the Latest Analyst Ratings

Posted-In: Auguste Gus Richard Piper JaffrayAnalyst Color Initiation Analyst Ratings

 

Related Articles (RKUS)

Around the Web, We're Loving...

Get Benzinga's Newsletters