Viavi price target raised to $16 from $13 at Argus

Argus raised the firm’s price target on Viavi (VIAV) to $16 from $13 and keeps a Buy rating on the shares. The company’s results exceeded consensus expectations and midpoint guidance for Q2 revenue as the company returned to annual top-line growth for the first time since Q4 of 2022, the analyst tells investors in a research note. Viavi Network Service Enablement business is seeing signs of recovery among traditional carrier customers, though its Optical Specialty Products lagged expectations, the firm adds.