UPDATE: DA Davidson Initiates Neutral, $1.90 PT on Clearwire on Debt and Funding Overhangs
DA Davidson initiated coverage on Clearwire (NASDAQ: CLWR) with a Neutral rating and a price target of $1.90 a share.
DA Davidson noted, "Initiating coverage on Clearwire (CLWR) with a NEUTRAL rating and $1.90 target price. CLWR has rich spectrum assets, but the heavy debt load, funding issues and overhang from possible sale of the cable companies' stock keep us on the sidelines."
Clearwire closed at $1.64 on Wednesday.
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