Jefferies Comments On Powerwave Q2 Revenue

According to Jefferies, Powerwave Tech (NASDAQ: PWAV) expects revenue for Q2 to be around the lower end of the guidance range.

Jefferies said that management also indicated GM to be within the expected range. “The revenue indication is based on weakness from Nokia Siemens and int'l markets. In our opinion, these factors were already expected. Additionally, we believe a slowdown of 3G spend at AT&T may have also contributed to a lack of further growth. We reiterate our Hold rating and $4 price target.”

Powerwave Tech closed yesterday at $2.33.