Investing
Goldman Sachs Positive on CommTech (CSCO, QCOM, RIMM, PWAV)
Published:
Goldman Sachs has come out with some positive calls in the communications technology group, and one of the stocks has been given an upgrade.
Specifically, Goldman Sachs noted that it is maintaining a bias toward the large-cap stocks in the communications tech universe with stocks like Cisco Systems (NASDAQ: CSCO), Qualcomm (NASDAQ: QCOM), and Research-in-Motion (NASDAQ: RIMM). The firm is starting to see some opportunities in small-caps in the sector and the firm has listed Powerwave (NASDAQ: PWAV) as its top idea.
PowerWave was RAISED TO BUY FROM NEUTRAL and it has a premium over Wall Street’s consensus estimates for 2008 and 2009. The firm believes that PowerWave can grow its top-line at least 10% over the next 2 to 3 years. Price target is $5.30, about 30% above current levels.
The firm noted that Small-cap stocks in its CommTech coverage are down 36% so far in 2008 and down 19% in June. Goldman Sachs believes this current underperformance is due to their greater sensitivity to macro headwinds as customers consolidate around larger vendors, and rising investor risk aversion.
Jon C. Ogg
June 30, 2008
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
