Jefferies Raises Numbers On Spreadtrum (SPRD) Ahead of Q3 Results

November 1, 2011 7:19 AM EDT
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Price: $30.93 --0%

Rating Summary:
    9 Buy, 7 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 16 | Down: 29 | New: 22
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Jefferies lifted estimates and its price target on Buy-rated Spreadtrum Communications (NASDAQ: SPRD) from $22.40 to $31.35 ahead of Q3 results.

The firm expects Spreadtrum to report Q3 results exceeding consensus and guide Q4 favorably, driven by better than expected TD demand.

"Our checks suggest Spreadtrum continues to take 2G market share given its aggressive pricing," " the analyst said. "With our optimism regarding its product roadmap and cost-leadership strategy, we see potential upside to our 2011/12 estimates."

For more ratings news on Spreadtrum Communications click here and for the rating history of Spreadtrum Communications click here.

Shares of Spreadtrum Communications closed at $26.57 yesterday.

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