Viavi price target raised to $20 from $16 at Needham

Needham analyst Ryan Koontz raised the firm’s price target on Viavi (VIAV) to $20 from $16 and keeps a Buy rating on the shares. The company beat consensus Q1 estimates for revenue and earnings and guided organic revenue above consensus by 4%, also guiding stub Q2 revenue from Spirent above previous expectations, the analyst tells investors in a research note. NSE – Network and Service Enablement – benefited from Viavi exposure to the data center ecosystem, the firm added.