KeyBanc Upgrades UniTek Global Services (UNTK) to Buy; Initiatives Gaining Traction

KeyBanc upgraded UniTek Global Services (NASDAQ: UNTK) from Hold to Buy with a price target of $8.00.

KeyBanc analyst says, "We are raising our rating on UniTek Global Services as we believe the Company has demonstrated traction toward achieving its growth strategy over the last few months, and we have gained the additional visibility we sought on the firm's revamped wireless E&C operations, along with comfort that margins will progressively improve through 2012 on account of better utilization. We view UNTK as undervalued vs. its telecom infrastructure peers."

" 2012 - Our GAAP EPS estimate of $0.35 compares to First Call consensus of $0.40, but we note there is one outlier at $0.65 skewing overall consensus. We consider this number an anomaly and when excluding it, we believe clean consensus of $0.35 is a better comparable."

For an analyst ratings summary and ratings history on UniTek Global Services click here. For more ratings news on UniTek Global Services click here.

Shares of UniTek Global Services closed at $4.49 yesterday.

---

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

---

You May Also Be Interested In

• Nomura/Instinet Upgrades Malayan Banking Bhd (MAY:MK) to Buy
• Citi Upgrades Ming Yuan Cloud Group Holdings Ltd (909:HK) to Buy
• Citi Upgrades Genius Electronic Optical Co Ltd (3406:TT) to Buy