UPDATE: Jefferies Initiates Coverage on Ixia with Buy Rating, $20 PT on Current Valuation

In a report published Friday, Jefferies analyst James Kisner initiated coverage on

with a Buy rating and $20.00 price target. In the report, Jefferies noted, “We are initiating on Ixia with a Buy rating and $20 Price Target. We believe current Consensus expectations now adequately reflect a recent slowdown in the Comm Test market, while the current valuation doesn't fully reflect the longer-term growth prospects of the company.” Ixia closed on Thursday at $15.60.