Wells Fargo Downgrades NII Holdings (NIHD) to Market Perform; Cutting Estimates on Lack of N-T Catalysts

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Wells Fargo downgraded NII Holdings (NASDAQ: NIHD) from Outperform to Market Perform, price target range lowered from $11-12.50 from $25.00-25.50.

Analyst, Jennifer M. Fritzsche, said, "NIHD is very much a company in transition. While we believe there is tremendous value to the Latin American assets, we struggle with near term catalysts to drive the shares until we gain more tangible visibility around the success of its 3G launch in its larger markets - namely, Mexico and Brazil."

Fritzsche cuts FY12 EPS estimate from $7.53 to $6.42 and FY13 from $8.87 to $8.10.

For an analyst ratings summary and ratings history on NII Holdings click here. For more ratings news on NII Holdings click here.

Shares of NII Holdings closed at $11.14 yesterday, with a 52 week range of $10.27-$44.00.

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