Jefferies Sees Solid Results in U.S. and Asian Markets for Telecom Equipment/Wireless Sales
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Rating Summary:
0 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies forecasts that U.S. and Asian consumer spending was relatively strong during the third quarter despite overall macro concerns.
Market checks by analysts at Jefferies indicate better than expected enterprise spending during the quarter while carrier capex spending maybe slightly weak. The firm notes that investors should focus on companies with dominate U.S. and Asia exposure, along with company's who have a history of strong innovation and execution as it remains the focus prime of the market.
Jefferies analyst Daniel Binder comments, "Given the headlines and macro headwinds, we believe the consumer has held up surprisingly well in the U.S., but in Europe we believe consumer spending on consumer electronics contracted in Q3 with declines of 5% to 9% likely,"..."While our anecdotal Golden Week checks show robust sales, we would argue that there was likely some squishiness around the edges."
Not all of Europe is expected to post poor results, the firm believes Germany, northern Europe, and Ireland should post strong results.
Jefferies covers nine companies in the Telecom Equipment/Wireless segment and has four Buy rating and five Hold rating on the companies. The firm is reiterating all of its previous estimates, price targets, and rating on the shares except for Brightpoint (Nasdaq: CELL). Jefferies raised its price target on shares of CELL from $10 to $12.
Market checks by analysts at Jefferies indicate better than expected enterprise spending during the quarter while carrier capex spending maybe slightly weak. The firm notes that investors should focus on companies with dominate U.S. and Asia exposure, along with company's who have a history of strong innovation and execution as it remains the focus prime of the market.
Jefferies analyst Daniel Binder comments, "Given the headlines and macro headwinds, we believe the consumer has held up surprisingly well in the U.S., but in Europe we believe consumer spending on consumer electronics contracted in Q3 with declines of 5% to 9% likely,"..."While our anecdotal Golden Week checks show robust sales, we would argue that there was likely some squishiness around the edges."
Not all of Europe is expected to post poor results, the firm believes Germany, northern Europe, and Ireland should post strong results.
Jefferies covers nine companies in the Telecom Equipment/Wireless segment and has four Buy rating and five Hold rating on the companies. The firm is reiterating all of its previous estimates, price targets, and rating on the shares except for Brightpoint (Nasdaq: CELL). Jefferies raised its price target on shares of CELL from $10 to $12.
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