S&P Upgrades Alvarion to Hold from Sell (ALVR)

S&P upgraded Alvarion

from Sell to Hold, Friday. S&P raised their 12-month target price by $0.50 to $2.50. Here are a few quotes from the report: “ALVR announces a multi-year equipment and services contract valued at $75 million to deploy a 4G network across Canada for rural broadband operator Barlett Xplore Inc. While we question the profitability aspect of the deal, we think it provides validation to ALVR's recent strategic transformation from a product supplier to a turnkey services organization. Also, being a TD-LTE migration deal, it proves ALVR can be successful outside its core 4G market of Wi-MAX. On revised relative analysis to account for an improving outlook, we raise our 12-month target price by $0.50 to $2.50./A.Bensinger”