Stifel Nicolaus Increases JDS Uniphase Corp. Price Target to $19.00 (JDSU)

Research analysts at Stifel Nicolaus lifted their price target on shares of JDS Uniphase Corp. (NASDAQ:JDSU) from $16.00 to $19.00 in a report released on Wednesday, Analyst Ratings reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 28.38% from the company’s current price.

The analysts wrote, “JDSU’s F4Q13 (June) results generally matched our previewed expectations with revenue of $421.3 million, at the low end of guidance and behind consensus expectations. Pro forma EPS of $0.13 matched consensus despite lower than expected revenue and margins, largely on a tax benefit. Surprisingly, CommTest exceeded expectations in the quarter with revenue coming in at roughly the midpoint of guidance given share gains, robust Ethernet trends (up 37% q/q), and record 100G quarterly revenue. JDSU is taking a cautious F1Q14 (September) view given ongoing macro softness, providing a below consensus revenue guidance range of $410-$430 million compared to our and the consensus expectation of $426.0/$433.2 million, respectively. Implicit F1Q14 (September) pro forma EPS guidance of $0.12 compared negatively to our prior estimate and the consensus of $0.14.”

A number of other firms have also recently commented on JDSU. Analysts at B. Riley raised their price target on shares of JDS Uniphase Corp. from $16.50 to $18.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at MKM Partners downgraded shares of JDS Uniphase Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, July 23rd. They now have a $15.00 price target on the stock, down previously from $16.00. They noted that the move was a valuation call. Finally, analysts at Needham & Company cut their price target on shares of JDS Uniphase Corp. from $20.00 to $18.00 in a research note to investors on Monday, July 22nd. They now have a “buy” rating on the stock.

Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $16.70.

JDS Uniphase Corp. (NASDAQ:JDSU) traded down 0.47% on Wednesday, hitting $14.73. JDS Uniphase Corp. has a 52-week low of $9.42 and a 52-week high of $15.63. The stock’s 50-day moving average is currently $14.67. The company’s market cap is $3.485 billion. JDS Uniphase Corp. also saw some unusual options trading on Monday. Investors acquired 12,747 put options on the stock, American Banking & Market News reports.This represents an increase of 566% compared to the typical volume of 1,915 put options.

JDS Uniphase Corp. (NASDAQ:JDSU) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $421.30 million for the quarter, compared to the consensus estimate of $430.64 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts expect that JDS Uniphase Corp. will post $0.56 EPS for the current fiscal year.

JDS Uniphase Corporation (NASDAQ:JDSU) is a provider of communications test and measurement solutions and optical products for telecommunications service providers, wireless operators, cable operators, and network equipment manufacturers.