Canaccord Genuity trims target for Spirent Communications, keeps at ‘speculative buy’

by | Aug 3, 2023

(Sharecast News) – Canaccord Genuity analysts trimmed their target price for Spirent Communications, but kept their recommendation at ‘speculative buy’.
They described the telecommunications testing company’s interims as “soft” but said that orders had seen an “encouraging” pick up.

Furthermore, they 20% year-on-year dop in first half sales had already been telegraphed by the outfit in previous updates.

However, Spirent had managed its cost base “well” and there had been clear signs of improvement regarding demand and the outlook for the second half.

Canaccord trimmed its target from 250.0p to 240.0p but kept its recommendation at ‘speculative buy’.

Related articles

Entain valuation still attractive despite Q3 disappointment

Entain valuation still attractive despite Q3 disappointment

(Sharecast News) - Shore Capital has maintained its 'buy' recommendation for Entain despite the gambling company disappointed the market with a weak third-quarter update, saying the shares still look good value. Entain, which owns brands like Ladbrokes, Coral and...

Latest Articles

Full-year profits slide at Close Brothers

Full-year profits slide at Close Brothers

(Sharecast News) - Close Brothers Group reported a decline in its full-year statutory operating profit before tax on Tuesday, to £112m from 2022's £232.8m. The FTSE 250 company said that figure included provisions of £114.6m related to Novitas, which it disclosed in...

Join our mailing list

Subscribe to our mailing list to receive regular updates!

No Fields Found.
x