FBR Capital Reiterates an 'Outperform' on UniTek Global Services (UNTK); Adding More to Its Wireless Arsenal
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Price: $0.15 --0%
Rating Summary:
4 Buy, 1 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 1 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital reiterates an 'Outperform' on UniTek Global Services (NASDAQ: UNTK), PT $18.
FBR analyst says, "Last week, UniTek announced the acquisition of Pinnacle Wireless, a wireless communications system integrator, which we believe will help drive growth and improve margins due to the higher technical nature of the services the company provides along with cost synergies and cross-selling opportunities. The company also announced 4Q10 results that were in line with our expectations. Revenue guidance for 2011 was also essentially in line, but EBITDA guidance was slightly above expectations due to the Pinnacle acquisition. Backlog remains high, and endmarket growth opportunities remain strong. UniTek remains one of our favorite small-cap specialty contractors, well positioned to benefit from improving telecom and broadband capital spending. Opportunities across the wireless sector continue to develop, highlighting the recently signed AT&T (NYSE: T) mini-turf agreement and the upcoming work with Sprint (NYSE: S)."
For more ratings news on UniTek Global Services click here and for the rating history of UniTek Global Services click here.
Shares of UniTek Global Services closed at $9.60 yesterday.
FBR analyst says, "Last week, UniTek announced the acquisition of Pinnacle Wireless, a wireless communications system integrator, which we believe will help drive growth and improve margins due to the higher technical nature of the services the company provides along with cost synergies and cross-selling opportunities. The company also announced 4Q10 results that were in line with our expectations. Revenue guidance for 2011 was also essentially in line, but EBITDA guidance was slightly above expectations due to the Pinnacle acquisition. Backlog remains high, and endmarket growth opportunities remain strong. UniTek remains one of our favorite small-cap specialty contractors, well positioned to benefit from improving telecom and broadband capital spending. Opportunities across the wireless sector continue to develop, highlighting the recently signed AT&T (NYSE: T) mini-turf agreement and the upcoming work with Sprint (NYSE: S)."
For more ratings news on UniTek Global Services click here and for the rating history of UniTek Global Services click here.
Shares of UniTek Global Services closed at $9.60 yesterday.
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