Jefferies Reports on Powerwave Tech
Jefferies & Company released a report commenting on Powerwave Tech (NASDAQ: PWAV) today. In the report Jefferies was optimistic for the future of Powerwave, but was reluctant to recommend the stock at these levels.
Jefferies comments, “Overall we see significant opportunity from the transition to LTE and more importantly from increasing cell site density; however, the stock appears likely to withstand the Q1 miss, leaving valuation levels still elevated. We retain our Hold rating and look for better entry points. We expect Powerwave to benefit from North American 4G builds and international 3G capacity additions, but see risk/reward as balanced at these levels and wait for a better entry point.”
Jefferies presently has a Hold rating on Powerwave and a price target of $4.00. In yesterday's trading, Powerwave fell 2.27% to close at $4.30 on the day.
