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
growth.

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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