Zacks Investment Research upgraded shares of JDS Uniphase Corporation (JDSUD) from NEUTRAL to OUTPERFORM on February 12, 2013, with a target price of $18.00.
We upgrade our recommendation on JDS Uniphase to Outperform following its second-quarter fiscal 2013 financial results, which surpassed the Zacks Consensus Estimates. Management provided an optimistic outlook for the rest of fiscal 2013. In the reported quarter, the company improved with respect to several operating metrics. These include adjusted gross and operating margins, adjusted EBITDA and cash flow. JDS Uniphase's newly launched differentiated products, which are gaining solid market traction coupled with the acquisitions of Dyaptive and GenComm become long-term positives for the company. In the second quarter, the newly launched products accounted for 54% of its total revenue in core network market. We believe carrier expenditure for broadband network buildout, mobility and 100 Gbps Ethernet will increase in 2013, aiding JDS Uniphase's prospects over the long haul.
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