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Technology Stocks : JDS Uniphase (JDSU)

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From: Ian@SI	11/3/2006 8:22:43 PM
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Unexpected (by me at least) 09:43 am JDS Uniphase: Needham & Co upgrades Buy to Strong Buy. Target $26. Needham upgrades JDSU to Strong Buy from Buy with a $26 tgt following earnigns, the firm says after more than five years of red ink, JDS Uniphase made it back in the black with its fiscal 1Q07 last night. They say while mgmt has already achieved $90 mln in annual cost savings, the co remains a "work in progress." Still, Q4 looks to be a seasonally strong quarter aided by some pent-up demand on the T&M side, and management offered a near-term operating model for the next three quarters that offers potentially large upside to current consensus estimates.

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