Hudson Securities Reiterates Ceragon Buy Rating; Maintains Estimates

Hudson Securities has reiterated its Buy rating on Ceragon Networks

, noting that it believes the current discrepancy in appreciation represents a buying opportunity. “Our price target remains at $14 and is based on 20X our 2011 EPS estimate of $0.70, in line with its revenue growth rate but below its EPS growth of 31%,” Hudson Securities writes. Ceragon currently trades at $12.15.