Jefferies Downgrades Brightpoint (CELL) to Hold

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Jefferies downgraded Brightpoint (NASDAQ: CELL) from Buy to Hold with a price target of $11 (down from $12).

The firm said they see see risk/reward as more balanced especially in light of the stock's outperformance, an uncertain macro environment, and exposure to RIM (Nasdaq: RIMM), MMI (NYSE: MMI), Nokia (NYSE: NOK), and others likely share losers.

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

Shares of Brightpoint closed at $9.91 yesterday, with a 52 week range of $7.37-$13.22.

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