Wellington WestCurrent Investor's Digest contains summary of Aug. 11 report by Wellington's Sean Peasgood. Reiterates strong buy, one-year target of $4.80. Target is based on projected revenue of $75 mil by 2012 and $100 mil by 2013. Describes these projections as "conservative given the near-term wireless opportunity," (group of 18, mediation underway, etc.). Wireless revs could represent .50 to $1 of additional EPS, which would make target equivalent to 8x earnings per share. This is a discount to peers (not named) currently at 17x EPS. Bottom line: WIN risk/reward is "compelling," wireless could add $750 mil to $1 bil in revenue over next 5-6 years.
My take: not difficult to see a double digit share price in these numbers, assumng SP to EPS ratio closer to peers, allowing for "conservative" revenue projections, and adding in other negotiations/litigation not mentioned, but already announced.
Footnote: back on Aug 10, CabbieJ noted wave of buying by Wellington. One day before report. Hmmn....
Gormless