Cantor Fitzgerald: Comm-gear Orders Rebounding in US
In a research report published today, Cantor Fitzgerald maintained its Buy rating and $28 PT on Microsemi Corporation (NASDAQ: MSCC) following recent medtech and comm checks.
According to Cantor Fitzgerald, “Recent newsflow and checks indicate comm-gear orders are rebounding in US and China. Along these lines, AT&T announced (3/12) it is expanding its 4GLTE network from 28 to 39 cities (by May). T-Mobile announced (2/23) a $4B 4G-HSPA+ network upgrade and a 2013 4G-LTE launch. Carrier spending on wireless and wired access infrastructure directly benefits MSCC's recently-acquired (10/28) Zarlink unit (85% comm; 15% medical), which sells timing/sync (ClockCenter wireless optical-backhaul ICs) and voicecircuits (for FTTx, DSL, and cable access) products.”
Microsemi closed yesterday at $21.35.
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