- Netgear (NASDAQ:NTGR) is up 4.3% out of today's open after Guggenheim initiated coverage at Buy, pointing to new products and secular gains from the evolution of data consumption.
- In the near term, aside from recent products there's a refresh expected later in the year, analyst Robert Gutman says. And in the longer term, there's benefit to be had from the ever-growing use of bandwidth as well as "evolving technologies incorporating new protocols and spectrum bands into wireless communications."
- He has a price target of $40, implying 50.5% upside.
- While sell-side analysts rate the stock an Outperform on average, Seeking Alpha authors are Neutral overall and the stock has a Quant Rating of Very Bearish.