Deutsche Bank Has Hold On Brightpoint

Deutsche Bank is out with a research report on Brightpoint

and it has a Hold rating and a $11 price target on shares. In a note to clients, Deutsche Bank writes, "Brightpoint sees themselves benefiting from healthy global demand for smartphones. They noted strength in the Android ecosystem from HTC and Samsung among others. They also highlighted their hope to improve profitability through the growth of high-touch services as well as the addition of the Touchstone phone refurbishment business. They also provided an update on their progress in Europe where they have two new major logistics centers operational as well as a new facility in South Africa coming on stream. They expect this to begin delivering meaningful new business in the next 12 to 18 months." Shares of CELL closed at $9.19 yesterday.