Powerwave (NASDAQ:PWAV) Beneficiary of Sprint (NYSE:S) Network Plan

The unveiling and implementation of Sprint's (NYSE:S) multi-year network plan should be a boost for Powerwave Technologies (NASDAQ:PWAV) in the long term, according to Barclays (NYSE:BCS).

Barclays said, "Though we anticipate limited near-term benefits, Sprint's (NYSE:S) multi-year network plan is a positive for Powerwave as opportunities should emerge in providing necessary antenna and radio gear to help the carrier consolidate its network technologies. Though questions remain on timing, initial checks suggest possible equipment procurement beginning in 2H11 suggesting a favorable longer-term opportunity."

Barclays maintains an "Equalweight" rating on Powerwave Technologies, which closed Wednesday at $2.58, up $0.07, or 2.79 percent. Barclays has a price target of $2 on them.