Jefferies Downgrades DragonWave (DRWI) to Hold
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Price: $3.90 +1.56%
Rating Summary:
4 Buy, 7 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
4 Buy, 7 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Jefferies downgraded DragonWave (NASDAQ: DRWI) to Hold with a price target of $3.50 (down from $9.50).
The firm comments, "we believe Sprint (NYSE: S) must build an LTE network at some point but that the start could be pushed out due to consumer demand and liquidity issues. Sprint’s next announcement for its network plans is scheduled for October 7, and we expect little to no positive newsflow for Dragonwave before then. As Dragonwave has negative cash flow and the potential for continued negative cash flow for several quarters, we do not believe the stock will be viewed favorably by investors."
For more ratings news on DragonWave click here and for the rating history of DragonWave click here.
Shares of DragonWave closed at $3.67 yesterday.
The firm comments, "we believe Sprint (NYSE: S) must build an LTE network at some point but that the start could be pushed out due to consumer demand and liquidity issues. Sprint’s next announcement for its network plans is scheduled for October 7, and we expect little to no positive newsflow for Dragonwave before then. As Dragonwave has negative cash flow and the potential for continued negative cash flow for several quarters, we do not believe the stock will be viewed favorably by investors."
For more ratings news on DragonWave click here and for the rating history of DragonWave click here.
Shares of DragonWave closed at $3.67 yesterday.
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