Canaccord Genuity Reiterates a 'Buy' on Spreadtrum Communications (SPRD); Strong Q3/11 Results, Raising Estimates and PT
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Price: $30.93 --0%
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Canaccord Genuity reiterates a 'Buy' on Spreadtrum Communications (NASDAQ: SPRD) price target raised to $33.00.
Canaccord analyst, T. Michael Walkley, said, "Spreadtrum reported Q3/11 sales of $185M and pro-forma EPS of $0.83, well above our recently increased $183M/$0.75 estimates. Due to share gains in international markets, improving TD-SCDMA volume and market share trends, and an improving mix of 40nm solutions, we are increasing our estimates...Based on the strong results, growing TD-SCDMA market, and increasing mix of 40nm products shipping in 2012, we are raising our 2011 pro-forma EPS estimate from $2.73 to $2.86 and our 2012 estimate from $2.86 to $3.01."
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 $26.76 yesterday.
Canaccord analyst, T. Michael Walkley, said, "Spreadtrum reported Q3/11 sales of $185M and pro-forma EPS of $0.83, well above our recently increased $183M/$0.75 estimates. Due to share gains in international markets, improving TD-SCDMA volume and market share trends, and an improving mix of 40nm solutions, we are increasing our estimates...Based on the strong results, growing TD-SCDMA market, and increasing mix of 40nm products shipping in 2012, we are raising our 2011 pro-forma EPS estimate from $2.73 to $2.86 and our 2012 estimate from $2.86 to $3.01."
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 $26.76 yesterday.
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