Jefferies Upgrades DragonWave (DRWI) to Buy, Sees Nearly 100% Upside

November 7, 2011 7:36 AM EST
Get Alerts DRWI Hot Sheet
Price: $0.12 +33.33%

Rating Summary:
    3 Buy, 8 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 36 | Down: 23 | New: 10
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Jefferies upgraded DragonWave (NASDAQ: DRWI) from Hold to Buy with a price target of $10, up from $3.50.

The firm notes that with the acquisition of NSN's microwave backhaul business, DragonWave "huge revenue opportunity in Western and Southern Europe with the 2014 LTE network upgrades."

In addition, the firm said "the technical limits of NSN's current portfolio as complemented by DRWI's industry-leading IP ethernet backhaul that we see as integral for LTE and VoLTE networks."

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

Shares of DragonWave closed at $5.09 yesterday.

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