Conexant Systems "market perform," target price raised -update
Updated Monday, July 21, 2003 12:54:38 PM ET
US Bancorp Piper Jaffray
NEW YORK, July 21 (New Ratings) — Analyst Ashok Kumar of US Bancorp Piper Jaffray maintains his “market perform” rating on Conexant Systems, Inc (CNXT). The target price has been raised from $5 to $7.
In a research note published this afternoon, the analyst mentions that Conexant Systems’ analog modem and broadband business segment is well-positioned to benefit from a seasonal upturn in 2H03. The company has, however, made only marginal revenue gains from its recent PCTel acquisition in the June quarter, adds the analyst. US Bancorp Piper Jaffray expresses caution regarding a continued weakness in the company’s network and subscriber expansion programs over the near term.
Updated Monday, July 21, 2003 12:54:38 PM ET
US Bancorp Piper Jaffray
NEW YORK, July 21 (New Ratings) — Analyst Ashok Kumar of US Bancorp Piper Jaffray maintains his “market perform” rating on Conexant Systems, Inc (CNXT). The target price has been raised from $5 to $7.
In a research note published this afternoon, the analyst mentions that Conexant Systems’ analog modem and broadband business segment is well-positioned to benefit from a seasonal upturn in 2H03. The company has, however, made only marginal revenue gains from its recent PCTel acquisition in the June quarter, adds the analyst. US Bancorp Piper Jaffray expresses caution regarding a continued weakness in the company’s network and subscriber expansion programs over the near term.
