Clearwire (CLWR) is seeing its quiet period now over. Yesterday marked its lowest close since the IPO at $18.61, and maybe these positive analyst calls may help stabilize it. So we have seen 4 initiations so far:
Jefferies started as Buy.
JP Morgan started as Overweight.
Stifel Nicolaus started as Buy.
Wachovia started as Outperform.
Bear Stearns started as Peer Perform.
There will probably be more calls out of other underwriters as well, but we haven’t seen those calls yet: Morgan Stanley, Merrill Lynch, Citigroup, and Raymond James. We’ll follow up on these as we get the rest of the initiations.
This one may get some notice since 4 of the initiations were positive ratings and since it has dropped so much since the IPO. Pali Research started this one as a Buy back in March, but they were not part of the underwriting group.
Jon C. Ogg
April 17, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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