Cowen Starts GigOptix (GIG) at Outperform; Sees ~80% Upside

Cowen initiates coverage on GigOptix (NYSE: GIG) with a Outperform rating and a price target of $3.00, suggesting ~80% upside.

Analyst Wayne Loeb commented, "As the leading provider of Active Optical Cable (AOC) chips, GIG's data comms biz is highly levered to data center and 10G to 40G migration. Also, its ASIC biz has high GM with proven IP library and key customer relationships. While a micro-cap today, we see scale opportunity though M&A, and GIG could become a takeout target for larger competitors."

For an analyst ratings summary and ratings history on GigOptix click here. For more ratings news on GigOptix click here.

Shares of GigOptix closed at $1.64 yesterday.

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