Jefferies Reiterates a 'Hold' on Sierra Wireless (SWIR); Mixed Q4, But Guides Above

Jefferies reiterates a 'Hold' on Sierra Wireless (NASDAQ: SWIR) price target raised from $7 to $8.

Jefferies analyst said, "We had thought strength at carriers like AT&T (NYSE: T) would help SWIR in Q4, but it appears the benefit was weighted towards Q1. We raise Q1 EPS mainly due to better GM. We continue to fear pricing pressure in mobile computing and see more of the company's value shifting to M2M; however, the growth of the M2M business has been slower and lumpier than expected. We see balanced risk/reward and reiterate our rating."

Jefferies raises FY12 EPS estimate from $0.50 to $0.52.

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

Shares of Sierra Wireless closed at $7.52 yesterday.

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