Canaccord Genuity Reiterates a 'Buy' on Sierra Wireless (SWIR); Upbeat Meeting in New Orleans

May 14, 2012 9:20 AM EDT
Get Alerts SWIR Hot Sheet
Price: $16.20 --0%

Rating Summary:
    2 Buy, 11 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 31 | New: 34
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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 an upbeat investor meeting with Sierra Wireless CEO Jason Cohenour at CTIA in New Orleans, and we believe Q1/12 results mark the beginning of a strong earnings recovery. With Sierra providing Q2/12 sales and EPS guidance above our estimates, we have greater confidence in our thesis that solid growth drivers are in place across Sierra’s business segments, and the stronger sales 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 $7.56 yesterday.

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