Ceragon Networks initiated with a Buy at Litchfield Hills

Litchfield Hills analyst Theodore O’Neill initiated coverage of Ceragon Networks (CRNT) with a Buy rating and $10 price target The company’s financial performance has “improved immensely” under new management, the analyst tells investors in a research note. The firm says Ceragon is focused on providing higher margin products and services, which include serving customers that need incremental capacity or managed services. The shares appear to be “priced significantly below absolute and comparative metrics,” contends Litchfield.