May 5, 2017 / 3:33 PM / in 4 months

BUZZ-Sierra Wireless Inc: Shares rise after Q1 revenue beat

** Canadian wireless equipment maker’s U.S.-listed shares up 16.53 pct at $28.90; set for best day in 3 months

** At least 5 brokerages raise PTs after company reported better-than-expected quarterly revenue, driven largely by enterprise mobile PC demand

** Canaccord Genuity raises PT to $30 from $25, Jefferies to $25 from $21, RBC to $27 from $25, BMO Capital Markets to $30 from $21; Median PT $27.50

** We like Sierra’s continued crisp execution and the longer-term secular theme of Internet of Things - Jefferies, raising PT to $25 from $21

** SWIR trades at 27.9x forward P/E vs. median of 17.2x for its peers

** Sierra’s Canada-listed shares up 16 pct at C$39.73

** Up to Thursday’s close, U.S. stock had risen 58 pct YTD

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