Canaccord Genuity Reiterates a 'Buy' on Sierra Wireless (SWIR); Healthy End Market Trends; Anticipate Strong H2/11

Canaccord Genuity reiterates a 'Buy' on Sierra Wireless (NASDAQ: SWIR), PT $15.

Canaccord analyst, T. Michael Walkley, said, "We hosted investor meetings with CFO Dave McLennan and believe Sierra Wireless is well positioned to benefit from ramping sales to AT&T (NYSE: T) in H2/11, strong sales of its embedded modules in H2/11, and continued strength in its M2M business. We maintain our above-consensus estimates and reiterate our rating...We believe the higher-margin industrial M2M sales should post stable 15-20% growth for the next several years and drive strong earnings."

For more ratings news on Sierra Wireless click here and for the rating history of Sierra Wireless click here.

Shares of Sierra Wireless closed at $11.24 yesterday.

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