Shares in Spirent Communications rise 5 percent after the firm that tests telecom devices and wireless networking equipment says full-year profit grew, helped by strength in its core performance analysis segment.
“Spirent is an investment play on many levels, and its fortunes are not tied to the success or failure any specific device or provider,” says Panmure analyst George O‘Connor, who raises his price target on the firm’s shares to 161 pence from 156 pence.
“The outlook suggests that its macro remains mixed - short-term uncertain, long-term better,” he adds while maintaining his “buy” rating on the stock.
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