Canaccord Adams Upgrades Atheros (ATHR) to Buy
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Canaccord Adams upgrades Atheros (Nasdaq: ATHR) from Hold to Buy ahead of the company's analyst day tomorrow.
"We believe Q4 guidance is conservative, with upside within reach," Canaccord analyst Bobby Burleson said. "A strong product cycle in Align, as well as continuing share gains in Ethernet, are likely to deliver superior growth for the company in 2010. We believe the mood at this week’s analyst day will be upbeat and provide a positive near-term catalyst for the shares."
The firm raised 2010 revenue estimates to $690 million from $647 million and 2010 EPS estimates from $1.80 from $1.54.
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