Canaccord Genuity Reiterates a 'Buy' on Sierra Wireless (SWIR); Positive Indications From Investor Meeting

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Canaccord Genuity reiterates a 'Buy' on Sierra Wireless (NASDAQ: SWIR) price target of $12.00.

Analyst, T. Michael Walkley, said, "We hosted investor meetings with Sierra Wireless CEO Jason Cohenour and VP of Finance Dave Ure in New York, and we believe strong Q1/12 results mark the beginning of an earnings recovery. With our checks indicating Sierra’s business is tracking well versus Q2/12 guidance, we believe growth across Sierra’s business segments will drive strong EPS growth given the leverage in the model. We believe Sierra’s LTE product portfolio is well positioned with leading carriers and expect sustainable long-term sales growth for its M2M business."

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 $9.06 yesterday, with a 52 week range of $6.02-$12.14.

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