Deutsche Bank Defends Starent (STAR) After Alcatel-Lucent's Verizon Wireless News
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Deutsche Bank is commenting on Starent Networks, Corp. (Nasdaq: STAR) today on word Alcatel-Lucent (NYSE: ALU) named Verizon Wireless (NYSE: VZ) as a customer. The firm said, despite the news, Starent's packet core portfolio well-positioned at Verizon.
Specificaly, Deutsche Bank's analyst said, "Our checks suggest that Starent's LTE - Evolved Packet Core (EPC) portfolio is well-positioned at its Verizon and also within Starent's UMTS base. Verizon has chosen Starent as the primary vendor for the eHRPD gateway and for the LTE Packet Gateway (PGW) upgrades. We note that the PGW is the 'anchor' LTE core element; a sticky product for Starent (a $240m opportunity by our est). At Verizon, ALU is likely to focus on the LTE, IMS, and EPC mobility elements - SGW and MME; lower-priced and lower-margin relative to the PGW, while ERIC would likely be initially focused on the LTE radio network only. We highlight that even though ALU announced a new EPC portfolio today, VZ has likely already seen these products but still chose Starent over ALU for the PGW. Our Tier-1 operator and OEM checks this morning further validate our point of view."
Shares of Starent are flat currently after trading up about 2% earlier.
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