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Fly News Breaks for February 25, 2019
ACIA, ZTCOY
Feb 25, 2019 | 08:17 EDT
MKM Partners analyst Michael Genovese raised his price target on Acaia Communications (ACIA) to $60 after its strong Q4 results and better than expected Q1 guidance. The analyst says the performance was "driven by the completion of ZTE's (ZTCOY) post-ban catch-up spending" and also notes that the "timing risks" in 2019 China demand picture are offset by the "new tenders and projects" in the market. Genovese is keeping his Neutral rating on Acaia Communications however because of its "full" valuation and a lofty consensus calling for 30% revenue growth in 2019 following a 12% decline in 2018.
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