Canaccord Genuity trims target for Spirent Communications, keeps at 'speculative buy'

Canaccord Genuity analysts trimmed their target price for Spirent Communications, but kept their recommendation at 'speculative buy'.

They described the telecommunications testing company's interims as "soft" but said that orders had seen an "encouraging" pick up.

Furthermore, they 20% year-on-year dop in first half sales had already been telegraphed by the outfit in previous updates.

However, Spirent had managed its cost base "well" and there had been clear signs of improvement regarding demand and the outlook for the second half.

Canaccord trimmed its target from 250.0p to 240.0p but kept its recommendation at 'speculative buy'.