Novatel Wireless (NVTL) – Bull of the Day - StraightStocks

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Novatel Wireless (NVTL) – Bull of the Day
Nov 05, 2009 05:00 AM UTC

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Return	Risk
-6.57%	MID

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Symbol	Sentiment	Start	Return	Closed
NVTL	n/a

Via StraightStocks:

We upgrade our recommendation for Novatel Wireless (NVTL) 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.Zacks Investment Research

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