In a report published Tuesday, Wunderlich Securities analyst Matthew S. Robison initiated coverage on Extreme Networks EXTR with a Buy rating and $9.00 price target.
In the report, Wunderlich Securities noted, “We are initiating coverage of Extreme Networks, Inc. (EXTR) with a Buy rating and 12-month target price of $9.00. Since purchasing Enterasys, Extreme has gained scale and uniqueness as an enterprise-focused network supplier with both switching and wireless. Growth opportunities are emerging with upgrade cycles: higher caliber wireless with analytics and network access control (NAC), as well as Ethernet fabrics for virtualization and lower latency. At approximately 1x the current revenue rate, valuation is attractive, in our opinion. The investment risks involve integration challenges associated with a large acquisition that we believe are temporary. However, we view these risks to be more than justified by the prospects Extreme offers for investors to benefit from industry transition.”
Extreme Networks closed on Monday at $5.80.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in