Canaccord Genuity Maintains a 'Buy' on Spreadtrum (SPRD); Upbeat Management Meeting

Canaccord Genuity maintains a 'Buy' on Spreadtrum Communications (NASDAQ: SPRD) price target of $12.00.

Analyst, T. Michael Walkley, said, "We hosted upbeat investor meetings yesterday with Spreadtrum management in Boston. While TD-SCDMA handset sales and subscriber net additions started slowly in 2012, we anticipate much stronger H2/12 sales. We believe Spreadtrum is well positioned to benefit with key tier-1 TD-SCDMA modem design wins and growing design momentum for its integrated TD smartphone solution. Further, we believe a larger mix of smartphone chipsets in H2/12 should drive higher blended chipset ASPs, stabilized gross margin, and solid earnings growth."

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

Shares of Spreadtrum Communications closed at $16.04 yesterday.

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