Canaccord Genuity Reiterates a 'Buy' on Brightpoint (CELL); AT&T (T) Withdraws Bid for T-Mobile - Improves 2012 Logistics Visibility
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Rating Summary:
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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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Canaccord Genuity reiterates a 'Buy' on Brightpoint (NASDAQ: CELL) price target of $14.00.
Canaccord analyst, T. Michael Walkley, said, "AT&T (NYSE: T) withdrew its $39B bid to purchase T-Mobile under mounting regulatory opposition. As a result, we believe Brightpoint should see increased visibility into its logistics business for 2012 as T-Mobile is a significant forward- and reverse-logistics customer. Further, we believe an increasing mix of smartphones globally should increase opportunities for Brightpoint’s logistics services and raise ASPs in the company’s distribution business, and both should increase gross profit dollars."
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 $9.14 yesterday.
Canaccord analyst, T. Michael Walkley, said, "AT&T (NYSE: T) withdrew its $39B bid to purchase T-Mobile under mounting regulatory opposition. As a result, we believe Brightpoint should see increased visibility into its logistics business for 2012 as T-Mobile is a significant forward- and reverse-logistics customer. Further, we believe an increasing mix of smartphones globally should increase opportunities for Brightpoint’s logistics services and raise ASPs in the company’s distribution business, and both should increase gross profit dollars."
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 $9.14 yesterday.
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