Casa Systems raises the roof on strong results, outlook

Casa Systems

19/02/2021 16:28

** Casa Systems  CASA.O  shares up 42.14% at 12.11, highest
level in two years; stock on track for biggest daily pct gain on
record
    ** The communications infrastructure co posted Q4 adjusted
EPS well above Street expectations and forecast FY21 revenue
above expectations  urn:newsml:reuters.com:*:nASA01RGU
    ** Stifel raised its price target on the stock to $10 from
$6
    ** "4Q20 marked the end of an impressive turnaround year for
Casa, as well as the start of a new focus on its Wireless
product portfolio," Stifel wrote in note, adding the wireless
business "now firmly in the driver's seat as the main growth
generator for the company." 
    ** Among the 7 analysts that cover Casa, the breakdown of
recommendations is 2 "buy," 3 "hold" and 2 "sell" ratings, per
Refinitiv data; median price target is $9, up from $6 three
months ago
    ** CASA shares up YTD 38.1% through Thursday's close after
50.9% gain in 2020

 ((charles.mikolajczak@tr.com; @ChuckMik; Reuters Messaging:
charles.mikolajczak.thomsonreuters.com@reuters.net))