Citi Upgrades PT On JDS Uniphase Corporation To $25, Maintains Buy (JDSU)

Citi upgraded its price target on JDS Uniphase Corporation JDSU from $24 to $25, while maintaining a Buy rating, in a research report published today. Citi remains very optimistic about JDS Uniphase's long-term future. In the report, Citi states, "While our estimates move modestly higher, we believe there are still better days ahead for JDSU. Sources of pot'l upside: upside in margins from CommTest (increased focus on high margin Service Assurance; optical & LTE cycles); outperformance in optical components given product initiatives; expanded AOT TAM from gesture. In total clear pot'l for $1.38 CY12 EPS vs. our current $1.18." JDS Uniphase skyrocketed in today's early trading, as its share added 9.24% to stand at $21.85.