UPDATE: Raymond James Initiates Coverage on NetGear on Attractive Risk/Reward Opportunity

In a report published Friday, Raymond James analyst Tavis C. McCourt initiated coverage on NetGear NTGR with an Outperform rating and $35.00 price target. In the report, Raymond James noted, “We are initiating coverage of shares of NTGR with an Outperform rating and $35 price target. As a leading global provider of network access, storage and other devices, we expect NETGEAR's recent underperformance to reverse as several upcoming technology transitions rekindle growth. Given today's valuation and management's newfound focus on returns as well as growth, we believe NTGR shares are presently an attractive risk/reward opportunity.” NetGear closed on Thursday at $29.82.