NETGEAR (NASDAQ:NTGR) Should Grow at 20% Clip

Citing security, storage and home WLAN, Barclays (NYSE:BCS) believes NETGEAR (NASDAQ:NTGR) will grow at a rate of 20 percent for years.

Barclays says, "Healthy long-term drivers should yield sales/EPS upside; at least $4.00+ possible in next 5 to 6 years: The rising trend of connecting home devices- TVs, PCs, Blu-ray players, and smartphones- is driving consumers to upgrade their home WLAN equipment. We believe these trends should make NTGR's 5-6 year $2B sales target (15% CAGR) achievable. Share gains in home WLAN, security, and storage could boost growth towards -20%. EPS power of at least $4, even $5, is possible over the next 5 to 6 years...We lift our estimates and price target; upside is likely: Our CY11 EPS rises to $2.15 from $2.05. We introduce CY12 EPS of $2.40; upside is likely to $2.70."

Barclays maintains an "Overweight" rating on NETGEAR (NTGR), which closed Monday at $34.37 gaining $1.17, or 3.52 percent. Barclays raised their price target on NETGEAR from $36 to $39.