Viavi price target raised to $11 from $9 at Morgan Stanley

Morgan Stanley analyst Meta Marshall raised the firm’s price target on Viavi to $11 from $9 and keeps an Equal Weight rating on the shares after the company announced its proposed $1.2B acquisition of Spirent, which the firm says is “a leader in wireless test.” The firm “leans positively” on the transaction given scale gained, exposures gained, increased leverage to lab versus production and the accretion potential, but maintains an Equal Weight rating on Viavi shares given near-term uncertainty.