Canaccord Genuity Maintains a 'Hold' on Spreadtrum Communications (SPRD); Solid Q1/11 Earnings, International Markets Strong

Canaccord Genuity maintains a 'Hold' on Spreadtrum Communications (NASDAQ: SPRD), PT increased from $26 to $28.

Canaccord analyst says, "Spreadtrum reported Q1/11 sales of $137M and pro forma EPS of $0.55 versus our $133M/$0.50 estimates. Spreadtrum management guided to Q2/11 revenue of $152-158M and gross margin of 42% versus our $137M/41.1% estimates. Given share gains in international markets and improving TD-SCDMA trends, we are increasing our price target...Based on solid results, we raise our 2011 pro forma EPS estimate from $2.08 to $2.26 and our 2012 estimate from $2.17 to $2.32."

For more ratings news on Spreadtrum Communications click here and for the rating history of Spreadtrum Communications click here.

Shares of Spreadtrum Communications closed at $22.02 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Goldman Sachs on Meta Platforms Inc. (META): 'We expect investors to have an initial negative reaction'
• Amerant Bancorp Inc. (AMTB) Misses Q1 EPS by 5c
• ATN International (ATNI) Misses Q1 EPS by 46c ; Offers Guidance