Jun. 27 at 10:36 AM
$ATEN A10 Networks initiated with a Buy at Deutsche Bank
Deutsche Bank initiated coverage of A10 Networks with a Buy rating and
$22 price target. The firm views A10 as a "unique SMID-cap story," offering a "differentiated mix" of high-single digit revenue growth, 80%-plus gross margins, and 25% adjusted EBITDA and free cash flow margins, which supports both share buybacks and dividends. Collectively, this "represents a rare combination of attributes for a stock with ~
$1BN in market cap," the analyst tells investors in a research note.