Morgan Joseph Upgrades Sierra Wireless (SWIR) to Hold
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- Morgan Joseph Upgrades Sierra Wireless (SWIR) to Hold
Morgan Joseph upgrades Sierra Wireless, Inc. (Nasdaq: SWIR) from Sell to Hold.
Morgan analyst says, "While we still fundamentally expect the Aircard business to experience cannibalization by embedded solutions, we believe the company has taken a new direction given endeavors such as its position in modules alongside Gobi, personal Hotspot devices, and embedded solutions in Barnes and Noble's e-book reader. We anticipate cash generation in Sierra's foreseeable future and, as a result, we believe a Hold rating is more appropriate...We have adjusted our 2009 and 2010 estimates given 3Q09's results and our new growth assumptions. We now expect 2009 revenue of $525mm, up from $511mm, and a GAAP EPS loss of $1.24, down from a loss $0.73 due to non-cash charges. For 2010, we now estimate sales of $530mm, up from $480mm, and an EPS loss of $0.31, up from a loss of $0.45."
To see more analyst ratings on SWIR Click Here.
Sierra Wireless, Inc. provides wireless wide area modem solutions for the mobile computing, rugged mobile, and machine-to-machine (M2M) markets.
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