Powerwave Technologies (NASDAQ:PWAV) PT, EST Estimates Raised on Capex Wireless Trends

Citing a survey confirming wireless capex trends are expected to continue, Canaccord raised their PT and EPS estimates on Powerwave Technologies (NASDAQ:PWAV).

Canaccord says, "We believe Powerwave is well positioned for solid 2011 sales and earnings growth, as our carrier CAPEX survey indicated solid wireless CAPEX trends in 2011 driven by new 4G network builds in North America and 3G builds in developing markets such as India. Further, our survey indicated strong capacity and coverage spending plans.

"Based on a solid pipeline of opportunities and improving profitability, we are increasing our 2011 pro forma EPS estimate to $0.21 from $0.19 and introducing our 2012 estimate of $0.27."

Canaccord Genuity reiterates a "Hold" rating on Powerwave Technologies (PWAV), which closed Monday at $3.53, down $0.03, or 0.84 percent. Canaccord increased their price target on Powerwave from $2.25 to $3.75.