Canaccord Genuity Reiterates a 'Buy' on Brightpoint (CELL); CES Meeting with Management

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

Canaccord analyst, T. Michael Walkley, said, "During CES, we met with Brightpoint senior management and focused on growth opportunities, including an increasing global smartphone mix, improving opportunities for logistics services from their European Centers-of-Excellence, improving Asia strategy and focus on new markets such as Africa, 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 the company is well positioned for continued earnings growth."

"...Despite RIM (Nasdaq: RIMM) guiding below the Street and HTC and Motorola Mobility (NYSE: MMI) lowering guidance recently, our checks indicate the global smartphone macro remains solid with Apple (Nasdaq: AAPL) and Samsung gaining share."

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 $11.79 yesterday.

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