downgrade RBCNEW YORK, October 3 (newratings.com) - Analyst Mike Abramsky of RBC Capital Markets downgrades Sierra Wireless (SWIR.NAS) from "outperform" to "sector perform." The target price is set to $10.
In a research note published this morning, the analyst mentions that competitive pressure at the company's core PC-card market is increasing. Verizon Wireless is likely to have stopped selling Sierra Wireless' PC cards, the analyst says. Consensus expectations already reflect the company's recent module-contract wins from Lenova and other companies, RBC Capital Markets adds.