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Clearwire Corporation (CLWRD) Message Board

  • fastmoney_2011 fastmoney_2011 Feb 7, 2011 12:13 PM Flag

    Credit Suisse Sees Tremendous Upside In Clearwire

    But With Too Many Unknowns Shares Rated 'Neutral'

    Earlier today, Credit Suisse initiated coverage on Clearwire (NASDAQ: CLWR) with a Neutral rating and $6 price target. The firm said while the stock offers more potential upside than any other in the coverage universe,

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    • Too Real Bud!

      Sentiment: Strong Buy

    • long way from 6

    • ... when they cover a company that has tremendous promise and is ramping business quickly but, as is the case with CLWR, is burning thru a lot of cash with big capital expenditure requirements and skinny margins.

      So, the analysts offer up the potential while hedging their bets with a neutral rating and a low/flat standard distribution of probabilities around a shaky expected value.

      Thx for the C. Suisse take,

      Spok

    • Credit Suisse Sees Tremendous Upside In Clearwire (CLWR), But With Too Many Unknowns Shares Rated 'Neutral'

      Earlier today, Credit Suisse initiated coverage on Clearwire with a Neutral rating and $6 price target. The firm said while the stock offers more potential upside than any other in the coverage universe, they don't have confidence that management will be able to maximize value.

      While Clearwire controls 25% of the wireless industry's spectrum, its value is entirely dependent on filling its capacity which is being frustrated by the ongoing dispute with Sprint. "The longer the dispute continues the more likely it is that would-be CLWR customers seek capacity elsewhere," the firm notes.

      At 100% capacity utilization, Credit Suisse values Clearwire business at $18 per share. However, under a distressed sale scenaior the value is $3 per share. They came to their conservative case price target of $6, which assumes new entrants drive down wholesale pricing to $3/GB.

 

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