Raymond James missed the run from $12 to $20 and is looking for an entry point. Today's action has more to do with Options expiration than it does Raymond James. Higher Highs and Higher Lows heading into earnings/guidance.
It was not a "misprint". Ray James did downgrade SWIR to market perform from outperform but raised its price from $14.00 to $20.00 saying that SWIR, by selling its modem business, has clearly unlocked significant value.
Well, SWIR is weathering the "downgrade" pretty well, which I think bodes pretty well for any downside surprise on earnings day. Still not really convinced that this is really a downgrade, though, since the target price was raised by 30%!
Yes, just read the same thing! Can't believe it.... they missed the bump, adjust for the run-up and then issue a downgrade! M2M is the next growth sector..... Get in now as Sierra Wireless will be a major player. Honestly, I must add "Past performance is not a guarantee of future results." Folks are looking at where this company was one or two years ago..... Long-term hold on SWIR will pay off big.