Analysts Say Sierra Wireless (SWIR) Well Positioned

Canaccord Genuity reiterated a Buy rating on Sierra Wireless (NASDAQ: SWIR) with a price target of $13.00.

"We believe Sierra’s business is tracking in line with our Q3/12 estimates, with strong M2M sales bolstered by the integration of Sagemcom M2M offset by slightly softer mobile computing sales as our checks indicate carrier partners have focused on new smartphone sales versus mobile computing products," said analyst T. Michael Walkley.

"Overall, we believe Sierra’s LTE product portfolio remains well positioned with leading carriers and we expect sustainable long-term growth for its M2M business," he said.

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 $7.85 yesterday.

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