June 16, 2008, 10:26 am
Sonus: Cantor Nudges Estimates, Target Higher
Posted by Eric Savitz
Sonus Networks (SONS) shares are modestly higher this morning after Cantor Fitzgerald analyst Edward Jackson repeated his Buy rating on the stock, bumping up his price target to $5 from $4.50, and slightly raising estimates.
“We have spoken with numerous industry contracts during the past three weeks and we sense little weakness in the company’s addressable market,” Jackson asserted in a note this morning. He bumped up his 2008 revenue estimate to $369 million from $363.2 million; his EPS estimate for the year goes to 12 cents from 11 cents. For 2009, he goes to $442.4 million and 16 cents, from $435.9 million and 15 cents.
SONS this morning is up 12 cents, or 2.8%, to $4.47.
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