H. Northland upgraded DZS to Outperform from Market Perform with a price target of $4, down from $5.50. The analyst cites the positive impact of the company’s Asia business sale and financing for the upgrade. The moves result in a smaller, more profitable entity focused on fiber access and mobile backhaul in the U.S., Europe, the Middle East and Africa, the analyst tells investors in a research note. While uncertainty remains around the restatement process, the sale of DZS’s Asia unit “de-risks the company’s balance sheet,” contends Northland.
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