Vistance Networks: The RUCKUS Sale Leaves A Cheap And Clean Company

I'm reiterating Vistance Networks at a Buy rating with a $12.2 post-distribution price target, reflecting a 52% upside including a $5 special distribution. VISN's thesis shifts to a cash-rich broadband infrastructure play, with earnings temporarily depressed by memory chip costs and stranded expenses expected to normalize by 2028. Key growth drivers include the DOCSIS 4.0 upgrade cycle, investment in adjacent technologies (PON, vBNG, security), and significant operating leverage from cost normalization.