** Canadian wireless equipment maker's U.S.-listed shares drop as much as 12.6 pct to $25.95; Biggest intraday pct fall in nearly 8 months
** Raymond James downgrades stock to "market perform" from "outperform"
** Brokerage says large contracts signed by SW, especially with Volkswagen, come at lower margins and don't fully ramp until 2019
** "We don't have much visibility regarding the profitability of these larger contracts" - Raymond James
** Sierra Wireless's TSX-listed shares down 3.26 pct at $36.43
** 4 of 12 brokerages rate the stock "buy" or higher, 6 "hold" and 2 "sell" or lower; Median PT $21
** Up to Friday's close, stock had fallen nearly 90 pct YTD