Canaccord Adams Starts NextWave Wireless (WAVE) at Speculative Buy
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Canaccord Adams initiates coverage on NextWave Wireless (Nasdaq: WAVE) with a Speculative Buy rating and $9 price target.
Analyst Eyal Ofir said, "In our opinion, NextWave is led by a strong management team and owns significant intellectual property around its core wireless technology offerings. We believe that investors who subscribe to our theme of the deployment of next-generation wireless broadband networks, mobile TV becoming a standard offering by wireless carriers, and the increased consumption of multimedia offerings via handheld devices, would be well served to gain exposure to NextWave. We also believe that the recent 700 MHz spectrum auction is a catalyst for it to monetize its spectrum portfolio." [LJ]
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