Analyst David Levinson maintains an "Underperform" rating for the WiMAX technology company.
Bank Hapoalim gives WiMAX solutions developer Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR) an "Underperform" recommendation with a target price of $3.65, just 4.5% above today opening price on Nasdaq.
Bank Hapoalim analyst David Levinson says that Alvarion still suffers from high uncertainty and that its turnover is falling. He predicts that the company will achieve higher profits in 2010, but through streamlining, not from sales growth. He doubts that the WiMAX market will flourish, or that equipment deliveries will resume any time soon. The share will therefore tread water as well.
Alvarion's share rose 2.3% at the opening on Nasdaq to $3.57, giving a market cap of $216 million. The share fell 4% on the TASE today to NIS 13.35.
Published by Globes [online], Israel business news - www.globes-online.com - on February 9, 2010
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