Raymond James Upgrades Sierra Wireless Ahead Of Earnings Report Thursday

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 |  About: Sierra Wireless, Inc. (SWIR)
by: FP Trading Desk

Sierra Wireless Inc.'s (NASDAQ:SWIR) strong industry fundamentals and a compelling valuation have led Raymond James analyst Sera Kim to raise her rating on the company from "outperform" to "strong buy."

Ms. Kim reports in a note that the company offers an excellent entry point ahead of its third-quarter earnings call on Thursday, with a low P/E ratio compared to its closest competitor of 16x, solid quarterly estimates and a high growth rate for the cellular modem market.

"We recommend investors buy shares of Sierra Wireless ahead of the quarter," said Ms. Kim. "We believe that F3Q07 results will be solid and that F4Q07 guidance will be at least in-line with expectations."

Shares in Sierra were up more almost 10% on Monday morning.

SWIR 1-yr chart: