Canaccord Genuity Reiterates a 'Buy' on Brightpoint (NASDAQ: CELL); Positive Meeting with Management

Canaccord Genuity reiterates a 'Buy' on Brightpoint (NASDAQ: CELL) price target of $14.00.

Canaccord analyst, T. Michael Walkley, said, "We hosted investor meetings with Brightpoint CFO Vince Donargo and VP of Investor Relations Tom Ward; the meetings focused on Brightpoint’s growth opportunities in 2012, including an increasing global smartphone mix, improving opportunities for logistics services from its European Centers-of-Excellence, and the growing market for reverse logistics and handset recycling services. We maintain our belief Brightpoint will continue to benefit from global smartphone adoption driving increased logistics opportunities and strong distribution ASPs, and is well positioned for continued earnings growth."

For an analyst ratings summary and ratings history on Brightpoint click here. For more ratings news on Brightpoint click here.

Shares of Brightpoint closed at $10.44 yesterday.

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