Jefferies Assumes Coverage Of Sierra Wireless
Jefferies believes Sierra Wireless's (NASDAQ: SWIR) M2M opportunity is large and is likely secular in nature, offsetting visibility concerns on the connectivity side. SWIR is a global leader in the non-PC connectivity market
with surprisingly little competition.
Risks include major Asian vendors engaging in aggressive pricing and therefore retain and/or gain market share. The transition to 4G could take longer than expected, elongating sales cycles and delaying potential revenue
Jefferies assumes coverage from Bill Choi with a Buy rating and a $12 price target.
SWIR is trading higher 3% at $10.86
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