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Ixia Surges After Wunderlich Upgrades, As Product/Market Synergies Gain Traction

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Shares of Ixia (NASDAQ: XXIA) were up on Tuesday after Wunderlich analyst Matthew S. Robison upgraded the stock from Hold to Buy. In a report issued Tuesday, the analyst also boosted his price target from $12 to $14 as product and market synergies gain traction.

According to the report, Ixia "battled the aftermath of restatements" for most of 2014, and operated almost 11 months with Chairman Errol Ginsberg as acting CEO. Ginsberg was then replaced by Bethany Mayer, who will reach six months serving as CEO next week.

"Meanwhile, products have been enhanced and integrated, and synergies are being executed with record bookings in 4Q14. Last week the company solved the challenge of refinancing debt due next December," the analyst notes.

Wunderlich views this to be "the last financial impediment for the stock," assuming the current 10K extension will be met shortly. They believe the company is positioned for "secular strength from security and performance management trends with Network Visibility Solutions (NVS) and efficiencies for Network Test Solutions."

Latest Ratings for XXIA

DateFirmActionFromTo
Feb 2017Stifel NicolausDowngradesBuyHold
Jan 2017Gabelli & Co.DowngradesBuyHold
Jan 2017WunderlichDowngradesSell

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Posted-In: Errol Ginsberg Matthew S. Robison WunderlichAnalyst Color Upgrades Price Target Analyst Ratings

 

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