Canaccord Genuity Raising PT and Estimates on Sierra Wireless (SWIR); Shares Attractive for L-T Investors

May 4, 2012 10:28 AM EDT Send to a Friend
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Price: $44.73 +6.05%

Rating Summary:
    2 Buy, 13 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 9 | New: 34
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Canaccord Genuity maintains a 'Buy' on Sierra Wireless (NASDAQ: SWIR) price target raised $1 to $12.

Analyst, T. Michael Walkley, said, "Sierra Wireless reported strong Q1/12 results with sales of $150.3M and pro forma EPS of $0.16, well above their guidance and our estimates of $145.3M/$0.08. With SWIR providing Q2/12 revenue and EPS guidance above our estimates, we believe our thesis that solid growth drivers are in place in all of Sierra’s business segments has started to generate leverage in the model. We believe Q1/12 results mark the beginning of a strong earnings recovery due to improved cost controls and steadily improving sales. We believe Sierra’s LTE product portfolio is well positioned with leading carriers and expect sustainable long-term sales growth for its M2M business."

Raises FY12 EPS estimate from $0.60 to $0.79 and FY13 from $0.80 to $0.88.

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

Shares of Sierra Wireless closed at $7.04 yesterday.


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