Canaccord Genuity Reiterates a 'Buy' on Spreadtrum Communications (SPRD); Upbeat Management Meetings; 2012 Roadmap Drives Growth

Canaccord Genuity reiterates a 'Buy' on Spreadtrum Communications (NASDAQ: SPRD) price target of $33.00.

Canaccord analyst, T. Michael Walkley, said, "We hosted investor meetings with Diana Jovin, Spreadtrum’s VP of Strategy and Investor Relations, and the meetings focused on Spreadtrum’s 2012 roadmap and overall growth drivers. We believe Spreadtrum is well position for both revenue and earnings growth during 2012 due to 2G/2.5G share gains in international markets, improving TD-SCDMA volume and market share trends, an improving mix of 40nm solutions, and new sales opportunities from EDGE/WiFi smartphone solutions and its first WCDMA solutions."

For an analyst ratings summary and ratings history on Spreadtrum Communications click here. For more ratings news on Spreadtrum Communications click here.

Shares of Spreadtrum Communications closed at $24.75 yesterday.

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