Viavi initiated with a Hold at Stifel

Stifel analyst Ruben Roy initiated coverage of Viavi with a Hold rating and $12 price target. He is positive on the longer-term growth prospects for the provider of network test, monitoring and assurance solutions, but believes Viavi’s large service provider customers have slowed near-to-medium term spending plans due to macro headwinds. He expects a cautious spending environment to continue into 2023, the analyst added.