Kaufman Bros. Downgrades Clearwire (CLWR) to Hold; May Exhibit Flattish Revenue Trend in 2012

Kaufman Bros. downgraded Clearwire (NASDAQ: CLWR) from Buy to Hold, price target cut from $5 to $2.

Kaufman analyst says, "We are lowering our total revenue outlook for 2012 to $1.3 billion from $1.7 billion, as well our top-line expectations beyond this year. Likewise, our projection for adjusted EBITDA increases to a loss of $334 million from our previous loss estimate of $29 million in 2012. In addition, we now expect the company to reach positive adjusted EBITDA in 2014. Our forecast assumes the new Sprint agreement generates revenue recognition equally in 2012 and 2013 at $450 million, despite Sprint (NYSE: S) actually paying Clearwire $600 million in 2012 and $300 million in 2013."

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 $2.00 yesterday.

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