Jefferies Upgrades Spreadtrum Communications (SPRD) to Hold; TD Smartphone Momentum Offset by Headwinds
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Price: $30.93 --0%
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Jefferies upgraded Spreadtrum Communications (NASDAQ: SPRD) from Underperform to Hold with a price target of $19.00 (from $11.00).
Analyst, Ken Hui, said, "While Spreadtrum should see solid TD smartphone momentum as China Mobile (NYSE: CHL) maintains handset subsidies at high levels, we see other headwinds, including stronger competitive threats in other TD products and EDGE/WCDMA smartphones, falling 2G prices, and bigger pressure on opex."
Raises FY EPS estimate from $1.85 to $2.06.
For an analyst ratings summary and ratings history on Spreadtrum Communications click here. For more ratings news on Spreadtrum Communications click here.
Shares of Spreadtrum Communications closed at $17.09 yesterday.
Analyst, Ken Hui, said, "While Spreadtrum should see solid TD smartphone momentum as China Mobile (NYSE: CHL) maintains handset subsidies at high levels, we see other headwinds, including stronger competitive threats in other TD products and EDGE/WCDMA smartphones, falling 2G prices, and bigger pressure on opex."
Raises FY EPS estimate from $1.85 to $2.06.
For an analyst ratings summary and ratings history on Spreadtrum Communications click here. For more ratings news on Spreadtrum Communications click here.
Shares of Spreadtrum Communications closed at $17.09 yesterday.
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