Jefferies & Company Reiterates Buy Rating, $39 PT on Cavium

In a report published Wednesday, Jefferies & Company reiterated its Buy rating and $39.00 price target on Cavium CAVM. Jefferies noted, “After hosting an investor meeting with CEO Syed Ali, we believe Cavium remains in a good position to deliver revenue and EPS upside surprises due to a combination of 1) diversity of its product cycles and customer relationships, and 2) Moore Stress, which hurts competitors such as Altera and Xilinx, who manufacture at leading edge nodes. Cavium remains one of our top picks for CY13.” Cavium closed on Tuesday at $31.13.