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UPDATE: Deutsche Bank Initiates Spreadtrum Communications at Buy on Smartphone Demand

Related SPRD
Spreadtrum Announces Receipt by Tsinghua Unigroup of Regulatory Approvals for Merger
Earnings Scheduled For November 11, 2013

Deutsche Bank initiated coverage on Spreadtrum Communications (NASDAQ: SPRD) with a Buy rating and a $28.70 price target.

Deutsche Bank commented, "We see SPRD as another major beneficiary of booming low-cost smartphone demand from emerging markets, aside from MediaTek, in the coming years. After a product transition this year, we expect SPRD to resume its earnings growth in 2013. Thus, we suggest accumulating shares from now. … We identify three major growth drivers for SPRD: 1) increasingly strong smartphone demand with market share gains; 2) its entry into the WCDMA segment; and 3) its in-house connectivity IC solutions. We believe SPRD plays a key role in TD, and that its importance should last into 4G TD LTE."

Spreadtrum Communications closed at $22.70 on Friday.

Posted-In: Deutsche BankAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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