Hudson Securities Reiterates Buy Rating on Aviat Networks (AVNW)

Hudson Securities is out with a research report this morning, where it reiterates its Buy rating on Aviat Networks AVNW; it has a $8.00 price target on the stock. The HS analysts cited recent investor meetings with AVNW management, where they highlighted a number of key initiatives underway at the company. The analysts also noted that the market dynamics remain intact and that historically, high oil prices have helped capital inflows into certain markets. As for valuation, the analysts remarked, “The stock currently trades at a depressed P/S ratio of 0.7X and we feel that as the company continues to execute on its current initiatives, that valuation will rise. As such, we maintain our Buy rating and our $8 price target, which is based on a reasonable P/S multiple of 0.9X.”