Jefferies Downgrades Clearwire (CLWR) to Hold, Asset Valuable but Equity Value Unclear
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Price: $4.70 --0%
Rating Summary:
3 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 10 | New: 19
Rating Summary:
3 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 10 | New: 19
Trade CLWR Now!
Jefferies downgraded Clearwire (NASDAQ: CLWR) from Buy to Hold with a price target of $2.00 (down from $4.00).
The firm comments, "We are downgrading CLWR shares to Hold from Buy and reducing our 2012 YE target price to $2 from $4. In our view, while the asset value of CLWR's spectrum remains the same, near-term bandwidth availability from VZ, and potentially DISH, could delay CLWR's spectrum sale. We believe CLWR funding gap of $2.5 billion could become a challenge as early as 2Q13 in the absence of an asset sale."
For an analyst ratings summary and ratings history on Clearwire click here. For more ratings news on Clearwire click here.
Shares of Clearwire closed at $1.55 yesterday, with a 52 week range of $1.24-$5.47.
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The firm comments, "We are downgrading CLWR shares to Hold from Buy and reducing our 2012 YE target price to $2 from $4. In our view, while the asset value of CLWR's spectrum remains the same, near-term bandwidth availability from VZ, and potentially DISH, could delay CLWR's spectrum sale. We believe CLWR funding gap of $2.5 billion could become a challenge as early as 2Q13 in the absence of an asset sale."
For an analyst ratings summary and ratings history on Clearwire click here. For more ratings news on Clearwire click here.
Shares of Clearwire closed at $1.55 yesterday, with a 52 week range of $1.24-$5.47.
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CLWR is the true value play
LLLLLLLLLLL on Apr 24, 2012 10:01 AMMark as Spam | Reply to this comment
What about the fact that the CLWR 2.5GHz spectrum is more efficient than the spectrum that VZ might auction? VZ wants to dump the less efficient 700MHz spectrum so it can buy spectrum from the cable companies ... And, it's not even confirmed that they will auction it off...it's just "proposed", they must receive government approval first. Read here for more details: http://seekingalpha.com/article/311571-verizon-validates-clearwire-s-spectrum-value