Stifel Nicolaus reduces its price target from $17 to $16 on Buy-rated Ixia XXIA as it transfers the company's coverage between analysts.
Stifel Nicolaus comments, "We reiterate our Buy rating on XXIA as we believe the company has a defensible product portfolio and competitive advantage that is demonstrated through its sustainable 78%-80% gross margin and above-industry growth rate in end markets where the company generally has only one legitimate competitor. Given the solid product lineup and secular trends in wireless and wireline, we expect the company can consistently grow its revenue at a double-digit rate, or nearly 2x the broader T&M average."
XXIA closed at $11.88 on Wednesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
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