PC-Tel Stock Rating Upgraded by Wunderlich (PCTI)
PC-Tel (NASDAQ:PCTI) was upgraded by equities research analysts at Wunderlich from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $10.50 price target on the stock, up from their previous price target of $10.00. Wunderlich’s price objective would suggest a potential upside of 25.00% from the company’s current price.
The analysts wrote, “Having experienced 16% multiple compression from a recent intra-day high (last month) of $10.00 PCTEL (PCTI) shares have traded to what we view to be an attractive level for investment. In addition, we believe the outlook for H213 and 2014 is developing positively, especially for 4G/LTE test equipment (scanning receivers from the RF Solutions segment), professional/carrier-grade Wi-Fi (Connected Solutions segment) and Network Engineering Services (RF Solutions), which specializes in deployment of carrier-grade wireless connectivity. With the combination of share price opportunity and fundamental catalysts associated with industry and OEM channel developments we are upgrading our opinion to Buy from Hold and adjusting our price target to $10.50 from $10.00.”
Separately, analysts at Zacks reiterated a “hold” rating on shares of PC-Tel in a research note to investors on Friday, June 14th. They now have a $6.70 price target on the stock.
PC-Tel (NASDAQ:PCTI) traded up 4.52% on Monday, hitting $8.78. The stock had a trading volume of 12,397 shares. PC-Tel has a one year low of $5.86 and a one year high of $10.00. The stock’s 50-day moving average is $9.21 and its 200-day moving average is $7.69. The company’s market cap is $156.7 million.
PC-Tel (NASDAQ:PCTI) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.09 by $0.02. The company had revenue of $26.74 million for the quarter, compared to the consensus estimate of $25.41 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 33.8% on a year-over-year basis. Analysts expect that PC-Tel will post $0.42 EPS for the current fiscal year.
PCTEL, Inc (NASDAQ:PCTI) is a provider of propagation and optimization solutions for the wireless industry.
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