H.C. Wainwright Starts Novatel (NVTL) at Buy
Get Alerts NVTL Hot Sheet
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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H.C. Wainwright initiated coverage on Novatel (NASDAQ: NVTL) with a Buy rating and a price target of $4.00.
Analyst Kevin Dede said, "We are initiating coverage of Novatel Wireless with a Buy rating and setting a conservative $4 price target that we may be raising sooner rather than later. Alex Mashinsky became 'interim' CEO mid-June, but Philip Falcone's September 8th $14.4M investment mandates that Mashinsky remain on board for a minimum of three years. We like Falcone's bet, and we're glomming on; after all, according to Cisco, we're talking about tackling a $14.4 trillion machine-to-machine market."
For an analyst ratings summary and ratings history on Novatel click here. For more ratings news on Novatel click here.
Shares of Novatel closed at $3.08 yesterday.
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