Viavi upgraded to Buy from Neutral at B. Riley

B. Riley upgraded Viavi (VIAV) to Buy from Neutral with a price target of $18, up from $12. The company is seeing a “significant tailwind” from the ongoing secular growth cycle in artificial intelligence data centers, the analyst tells investors in a research note. The firm views Viavi’s acquisition of Spirent’s high-speed Ethernet testing business as “timely” and believes it will further accelerate the company’s revenue growth and multiple expansion. Riley says Viavi is a better investment than transceiver companies like Coherent (COHR).