Hudson Securities Out With Note On DragonWave (DRWI)

Hudson Securities is out with a research report on DragonWave, Inc.

, after the company reported earnings yesterday after the bell. It has a $7 price target, and rates shares at Neutral. In the research report, Hudson notes, "The company is well positioned with Clearwire (

), a leading provider of 4G networks. However, we believe its long term growth is contingent on expanding its customer base. We feel that the shares of DRWI are fairly valued at 20X our FY12 EPS estimate and 1.7X our FY12 revenue estimate. As such, we maintain our Neutral rating." Shares of DRWI are up 30 cents to $6.96, a gain of 4.5%.