Barclays on Technology: GTC Day 2: Nokia (NOK), Juniper (JNPR), Polycom (PLCM), Sierra Wireless (SWIR)
Tweet
Share
E-mailGet Alerts NOK Hot Sheet
Price: $10.18 +0.30%
Rating Summary:
24 Buy, 13 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
24 Buy, 13 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Barclays on Technology: GTC Day 2: Nokia (NYSE: NOK), Juniper (Nasdaq: JNPR), Polycom (Nasdaq: PLCM), Sierra Wireless (Nasdaq: SWIR) by Jeff Kvaal
Nokia (NYSE: NOK): CEO Stephen Elop provided a positive presentation during his first US investor conference - though bereft of fresh detail on the Lumia launch. Our view remains that early demand is healthy. We expect the Lumia to launch beyond the initial six markets into China, India, Brazil, and Mexico early in 2012. An announcement for a US launch should come next week. We believe the company's crisp execution of the Lumia launch and resurgence in the feature phone market provides a strong foundation for a 2012 turnaround.
Juniper (Nasdaq: JNPR): Juniper CFO Robyn Denholm expressed confidence that the new product roster (T4000, PTX, MobileNext, QFabric) will contribute to share gains in 2012. Juniper is not yet prepared to offer a view of 2012 sales growth, though appears set to offer a 'market growth plus' figure rather than more tangible, absolute targets as in the past. In response to questions Juniper indicated it has not changed its view of F4Q demand. We believe it has greater visibility into 1Q than usual given a strong 3Q book to bill of 1.2.
Polycom (Nasdaq: PLCM): Long term share gains expected against high double digit market growth fueled by video, UC adoption and mobility. Polycom's 18-20% margin target in each quarter of 2012 is feasible as revenues and higher margin products ramp. 4Q guidance appears conservative and 20% growth in 2012 is possible, in our view.
Sierra Wireless (Nasdaq: SWIR): Demand drivers appear in place - M2M, 4G - to support a return to growth in 2012 as recent challenges including the loss of Clearwire (Nasdaq: CLWR) and Barnes and Nobles (NYSE: B) recedes.
Nokia (NYSE: NOK): CEO Stephen Elop provided a positive presentation during his first US investor conference - though bereft of fresh detail on the Lumia launch. Our view remains that early demand is healthy. We expect the Lumia to launch beyond the initial six markets into China, India, Brazil, and Mexico early in 2012. An announcement for a US launch should come next week. We believe the company's crisp execution of the Lumia launch and resurgence in the feature phone market provides a strong foundation for a 2012 turnaround.
Juniper (Nasdaq: JNPR): Juniper CFO Robyn Denholm expressed confidence that the new product roster (T4000, PTX, MobileNext, QFabric) will contribute to share gains in 2012. Juniper is not yet prepared to offer a view of 2012 sales growth, though appears set to offer a 'market growth plus' figure rather than more tangible, absolute targets as in the past. In response to questions Juniper indicated it has not changed its view of F4Q demand. We believe it has greater visibility into 1Q than usual given a strong 3Q book to bill of 1.2.
Polycom (Nasdaq: PLCM): Long term share gains expected against high double digit market growth fueled by video, UC adoption and mobility. Polycom's 18-20% margin target in each quarter of 2012 is feasible as revenues and higher margin products ramp. 4Q guidance appears conservative and 20% growth in 2012 is possible, in our view.
Sierra Wireless (Nasdaq: SWIR): Demand drivers appear in place - M2M, 4G - to support a return to growth in 2012 as recent challenges including the loss of Clearwire (Nasdaq: CLWR) and Barnes and Nobles (NYSE: B) recedes.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- Ferrovial SA (FER:SM) (FRRVF) Reiterated at Buy by UBS on Winning Bid For Tennessee Project
- Barclays Downgrades Renault SA (RNO:FP) (RNSDF) to Equalweight
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
BarclaysSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
