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Para que lado vai a SWIR ?????
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Shares of Sierra Wireless Inc. surged in heavy trading on Thursday, the day after the Canadian maker of wireless modems posted strong fourth-quarter results and an outlook that beat Wall Street's expectations.
Piper Jaffray (nyse: PJC - news - people ) analyst T. Michael Walkley upgraded Sierra to "Outperform" from "Market Perform" and boosted his target price to $20 from $14.
The analyst said strong overall PC card sales "should help spur carrier competition and drive strong 2007 trends." Sierra's customers include Cingular and Verizon (nyse: VZ - news - people ) wireless as well as Sprint Nextel Corp. (nyse: S - news - people )
"We were also encouraged by Sierra Wireless (nasdaq: SWIR - news - people )'s improving customer mix," Walkley wrote in a note to investors. "While Cingular and Verizon represented 37 percent of Q406 sales, Sierra Wireless's top two customers represented 46 percent of third-quarter 2006 sales."
Sierra's revenue from Europe more than doubled during the quarter, representing 24 percent of total sales, the analyst noted, adding that "increased marketing of PC card sales in Europe should help drive strong top-line growth" for the company.
Although the company's pro-forma gross margin of 26.2 percent fell sequentially from 28.9 percent, the analyst said he expects margins to stabilize in the mid-20 percent level, thanks in part to an improving product mix.
Walkley raised his 2007 pro forma earnings estimates to 87 cents from 67 cents per share, and his 2008 estimate to $1.15 from 80 cents.
Analysts polled by Thomson Financial are expecting, on average, earnings of 52 cents per share for the current year and 83 cents per share for 2008.
Shares of the Richmond, British Columbia-based wireless communications company were up 55 cents, or 3.8 percent, at $14.99 in afternoon trading on the Nasdaq, after surging as much as 14 percent to $16.48 earlier in the session. Volume was almost 9 times the daily average. In the past 52 weeks, the stock has changed hands between $10.58 and $21.37.
Shares of Sierra Wireless Inc. surged in heavy trading on Thursday, the day after the Canadian maker of wireless modems posted strong fourth-quarter results and an outlook that beat Wall Street's expectations.
Piper Jaffray (nyse: PJC - news - people ) analyst T. Michael Walkley upgraded Sierra to "Outperform" from "Market Perform" and boosted his target price to $20 from $14.
The analyst said strong overall PC card sales "should help spur carrier competition and drive strong 2007 trends." Sierra's customers include Cingular and Verizon (nyse: VZ - news - people ) wireless as well as Sprint Nextel Corp. (nyse: S - news - people )
"We were also encouraged by Sierra Wireless (nasdaq: SWIR - news - people )'s improving customer mix," Walkley wrote in a note to investors. "While Cingular and Verizon represented 37 percent of Q406 sales, Sierra Wireless's top two customers represented 46 percent of third-quarter 2006 sales."
Sierra's revenue from Europe more than doubled during the quarter, representing 24 percent of total sales, the analyst noted, adding that "increased marketing of PC card sales in Europe should help drive strong top-line growth" for the company.
Although the company's pro-forma gross margin of 26.2 percent fell sequentially from 28.9 percent, the analyst said he expects margins to stabilize in the mid-20 percent level, thanks in part to an improving product mix.
Walkley raised his 2007 pro forma earnings estimates to 87 cents from 67 cents per share, and his 2008 estimate to $1.15 from 80 cents.
Analysts polled by Thomson Financial are expecting, on average, earnings of 52 cents per share for the current year and 83 cents per share for 2008.
Shares of the Richmond, British Columbia-based wireless communications company were up 55 cents, or 3.8 percent, at $14.99 in afternoon trading on the Nasdaq, after surging as much as 14 percent to $16.48 earlier in the session. Volume was almost 9 times the daily average. In the past 52 weeks, the stock has changed hands between $10.58 and $21.37.
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