UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Cavium

In a report published Friday, Jefferies reiterated its Buy rating on Cavium (NASDAQ: CAVM ), and raised its price target from $39.00 to $42.00. Jefferies noted, “Cavium's Q4 results beat, and guidance for Q1 revenues to grow 4% QoQ reflects continued revenue ramps in the low-cost wireless base station (BTS)