Friday, December 3, 2010

Brightpoint (NASDAQ:CELL) Looks Good on Smartphone Sales

With smartphone trends continuing to move up, Canaccord Genuity sees
Brightpoint (NASDAQ:CELL) trending up with it.

Canaccord said, "Based on our November checks, we believe Brightpoint should benefit from strong smartphone growth trends. We believe an increasing mix of higher-ASP smartphones should have a positive impact on distribution ASPs and margins, while increasing smartphones handled should improve logistics sales."

Canaccord maintains a "Buy" rating on Brightpoint, which closed Thursday at $8.54, up $0.05, or 0.59 percent. They have a price target of $10 on them.

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