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Novatel Wireless (NVTL)

Nov 05, 2009 (Zacks.com via COMTEX) -- By Zacks Equity Research

Company: Novatel Wireless, Inc. (NVTL)

We upgrade our recommendation for Novatel Wireless (NVTL) to Outperform following the blockbuster financial results of its third quarter 2009.

We expect the top-line of Novatel to maintain its current growth rate supported by strong demand for MiFi mobile intelligent hotspot and USB modems.

The company has generated a record-high level of free cash flow and significantly improved its gross margin. In addition, the company has a very strong balance sheet, capable to support its long-run business endeavors.

Management has made the decision to extend the MiFi platform with new features and functionality, as well as building a MiFi ecosystem through organic development and strategic partners.

The Bull of the Day is one of the latest Buy recommendations from Zacks Equity Research. Our team of analysts consistently identify stocks set to outperform the market over the next six months. Discover More Bull of the Day stocks.

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Company: Novatel Wireless, Inc. (NVTL)


Related terms: business, equity, financial results, investment opinion, research, wireless

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