February 10, 2017 / 7:34 PM / in 10 months

BUZZ-Sierra Wireless: Best intraday jump in 14 yrs on strong report, contract win

** Sierra Wireless’s TSX-listed shares and Nasdaq-listed shares jump 35 pct to C$33 and $25.25, respectively, highest since Nov. 2015

** The IoT pure-play company’s stocks notch their biggest intraday pct gain in over 14 years, with volumes nearly 13x their 10-day moving average

** Co’s posts Q4 profit vs yr-ago loss, helped by cost cuts, while adj EPS is nearly double what analysts expected; Co’s Q1 EPS forecast also tops estimates

** SW announces contract win with Volkswagen, which Raymond James notes is second win at the world’s largest carmaker in just over a year

** Brokerage says SWIR could surprise positively through 2017, with easier comps as factors that hurt 2016 have normalized

** Nearly all 12 covering brokerages raise PTs, which pushes Wall St median PT up by $5 to $21

** Wall St sentiment on SWIR has risen: now 4 “buy” or higher ratings, 7 “hold” and 1 “sell” vs. 2 “strong buy” 9 “hold” and 1 “sell” three months back

** Up to Thursday’s close, Canadian stock had risen 86.2 pct and U.S. stock had risen 75.4 pct in 12 months

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