UPDATE: Jefferies Raises ARRIS Group's PT

According to a research report published this morning, Jefferies has increased ARRIS Group's

PT from $12 to $13. In the report, Jefferies commented, "ARRIS posted strong Q1 results and gave Q2 guidance above Street expectations. While we're encouraged by recent developments on ARRIS' business, we're hesitant to be more constructive until we feel confident that ARRIS is likely to continue to beat investor expectations." Jefferies maintains its Hold rating on ARRIS Group, which is currently trading at $12.88.