Morgan Joseph Starts NII Holdings (NIHD) at Buy, Price Target $54

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Morgan Joseph initiates coverage on NII Holdings (NASDAQ: NIHD) with a Buy rating as the company announced that they are going to enhance their coverage, which has been limited in the past, this will be done by adding new products and services, building 3G networks, and by expanding distribution. The firm reports that the company is targeting a market with over 46 million people in it, and are only penetrating 18% of it. The firm has set their price target at $54 on the company.

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

Shares of NII Holdings closed at $42.89 yesterday, with a 52 week range of $30.00-$46.32.

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