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Date: 04/13/2012 08:55

Forum: Powerwave Technologies - Msg #864

Thread #673387694 (Rec: 0)

Im seeing as this as not such a bad thing...chance to load a few hella low...Re: UPDATE: Jefferies Raises PT to $2 on Powerwave Technologies

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Reply to sunshinetil2 - Msg #2258708 - 04/13/2012 08:17

UPDATE: Jefferies Raises PT to $2 on Powerwave Technologies

By David Johnson
Benzinga Staff Writer
April 13, 2012 7:19 AM

Jefferies boosts its price target from $1.15 to $2 on Hold-rated Powerwave Technologies (NASDAQ: PWAV[FREE Stock Trend Analysis]) following negative Q1 pre-announcement, as checks indicated AT&T order flow-through.

Jefferies notes, "As we feared, management's guidance for Q1 revenues being up Q/Q proved too optimistic. PWAV is now guiding to $40-$45M (down 25%-33% Q/Q) with no further details. The key is AT&T. Our checks indicate that AT&T orders are finally flowing to customers in Q2, but we have not been able to determine if PWAV has maintained its share at AT&T. Due to this binary situation, we maintain our Hold."

PWAV closed at $2.15 on Thursday.

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