Craig-Hallum starts Ceragon Networks with a Buy as selloff creates opportunity

As previously reported, Craig-Hallum initiated coverage of Ceragon Networks (CRNT) with a Buy rating and $5 price target The firm believes the recent selloff in shares following the company’s Q4 results has created an attractive entry point. The company is entering 2025 with limited visibility, but is optimistic for a recovery in the second half of the year. Craig-Hallum says early signs of an improving RAN and fiber investment backdrop set up well for improving customer investments in Ceragon’s wireless transport network backhaul infrastructure. With a balance sheet carrying modest net cash, and while shares trade at just 8-turns 2025 Street EPS, and 6-turns 2026 Street EPS, the firm believes shares are too inexpensive at current levels to be ignored.