Kaufman Brothers Begins Coverage on Clearwire Corp (NASDAQ: CLWR)

Kaufman Brothers initiated coverage on shares of Clearwire Corp (NADSAQ: CLWR) with a “buy” rating and with a price target of $8.50 saying that the company will see a significant increase in wireless data services in 2011 and that the company has a strong spectrum holdings position in a research note to investors on Thursday.

Clearwire Corporation (Clearwire) builds and operates mobile broadband networks that provide high-speed residential and mobile Internet access services and residential voice services in communities. Its 4G mobile broadband networks creates a communications channel into the home or office, and also provides a broadband connection anywhere within its coverage area. As of December 31, 2009, it operated in 61 markets in the United States and Europe. It had approximately 642,000 retail and 46,000 wholesale subscribers. Clearwire’s service WiMAX, referred as 4G mobile broadband services, offer the services both on a retail basis and through the wholesale partners, including Sprint, Comcast, Time Warner Cable and Bright House. During 2009, Clearwire operated 4G mobile broadband networks in 27 of the markets in the United States. These markets include, among others, Atlanta, Baltimore, Charlotte, Chicago, Dallas, Honolulu, Las Vegas, Philadelphia, Portland, Oregon, San Antonio and Seattle.

Shares of CLWR traded up 1.65% hitting $6.76 during mid-day trading on Thursday.

This article (Kaufman Brothers Begins Coverage on Clearwire Corp (NASDAQ: CLWR)) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.