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zacks

Novatel Wireless (NVTL)

  • By Zacks Equity Research
  • On 1:00 am EST, Thursday November 5, 2009

We upgrade our recommendation for Novatel Wireless (NasdaqGS: NVTL - News) to Outperform following the blockbuster financial results of its third quarter 2009.

We expect the top-line of Novatel to maintain its current growth rate supported by strong demand for MiFi mobile intelligent hotspot and USB modems.

The company has generated a record-high level of free cash flow and significantly improved its gross margin. In addition, the company has a very strong balance sheet, capable to support its long-run business endeavors. Management has made the decision to extend the MiFi platform with new features and functionality, as well as building a MiFi ecosystem through organic development and strategic partners.

NOVATEL WIRELES (NVTL): Free Stock Analysis Report

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