Kaufman Bros. Cuts Price Target on Clearwire (CLWR) But Still Calls for Over 60% Upside

Article Stock Quotes (2) Comments (0)

Kaufman Bros. is reiterating its Buy rating on shares of Clearwire (NASDAQ: CLWR) as its new price target of $5.00, down from $6, calls for over 60 percent upside from where the stocks trading at.

The firm notes that management at CLWR previously announced its third quarter results back in mid-October and confirmed that the company continues to gain Sprint (NYSE: S) customers despite the recent launch of the new iPhone. The company also highlighted that maintaining sufficient captial throughout the third quarter of 2012 wont be difficult, but due to a lack of data forecasting a positive
EBITDA in the first quarter of 2012 will be difficult.

An analyst at Kaufman comments, "Clearwire's operational results continue to improve, but do not diminish concerns regarding the company's balance sheet, its strategic willingness to make scheduled interest payments in December, and the need to reach a new long-term accord with Sprint for roaming."

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

Shares of Clearwire closed at $2.04 yesterday, with a 52 week range of $1.24-$7.37.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Dish (DISH) Begins Building Visionary Network . . . Sort Of
• Wells Fargo Boosts Price Target on Pandora (P), Maintains Outperform
• Needham & Company Lifts Numbers on Marvell (MRVL) on Solid Results

Create E-mail Alert Related Categories

Analyst Comments

Related Entities

Kaufman Bros.

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?