Analyst Upgrades Cavium On New Video Platform
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CAVM
LOS ANGELES (AP) — An analyst raised his rating on networking chip maker Cavium Networks Inc. to "Overweight" from "Equal Weight" and lifted his fiscal 2010 estimate Monday.
Analyst Tim Luke with Barclays Capital said in a research note that the company's new wireless video platform, PureVu, could provide "meaningful upside" to sales and profit margin estimates. He increased his estimate for 2010 earnings forecast to 34 cents per share from 30 cents per share. He raised his share price target to $25 from $19. Shares slid 18 cents to $18.21 in afternoon trading.- Loading Comments...
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