Canaccord Genuity Reiterates a 'Buy' on Sierra Wireless (SWIR); Solid Q3/11 Results; M2M Growth Thesis Intact but Mobile Computing Uncertainty
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Price: $30.99 --0%
Rating Summary:
2 Buy, 16 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 16 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Sierra Wireless (NASDAQ: SWIR) price target of $9.00.
Canaccord analyst, T. Michael Walkley, said, "SWIR reported Q3/11 results, with sales of $147M below our $153M estimate but pro forma EPS of $0.15 well above our $0.04 estimate due to much stronger gross margin. However, Mobile Computing sales visibility remains cloudy, resulting in Q4/11 guidance below our estimates. While we believe Sierra’s LTE product portfolio is well positioned with leading carriers and we expect sustainable long-term sales growth for its M2M business, we anticipate continued weak mobile computing sales during 2012."
"We are lowering our 2011 pro forma EPS estimate from $0.12 to $0.10 and
our 2012 estimate from $0.89 to $0.58."
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 $7.34 yesterday.
Canaccord analyst, T. Michael Walkley, said, "SWIR reported Q3/11 results, with sales of $147M below our $153M estimate but pro forma EPS of $0.15 well above our $0.04 estimate due to much stronger gross margin. However, Mobile Computing sales visibility remains cloudy, resulting in Q4/11 guidance below our estimates. While we believe Sierra’s LTE product portfolio is well positioned with leading carriers and we expect sustainable long-term sales growth for its M2M business, we anticipate continued weak mobile computing sales during 2012."
"We are lowering our 2011 pro forma EPS estimate from $0.12 to $0.10 and
our 2012 estimate from $0.89 to $0.58."
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 $7.34 yesterday.
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