Preferred Capital Markets, Inc.Upgrades Westell Technologies, Inc. to Strong Buy from Buy
SAN FRANCISCO, Dec. 20 /PRNewswire/ -- The following is being issued by Preferred Capital Markets, Inc., a member of the National Association of Securities Dealers, CRD number 10993:
Preferred Capital Markets, Inc, a brokerage firm servicing both institutional and individual investors with a focus on technology, telecommunications and medical technology today upgrades shares of Westell Technologies, Inc. (Nasdaq: WSTL) (WSTL, 10 5/16) to Strong Buy from Buy, while adjusting the 12-month target price to $17 from $12.
Joel Achramowicz, senior equity analyst, considers the Company's recent decision to purchase Teltrend (Nasdaq: TLTN) for stock to be in the best interests of Westell and Teltrend shareholders. Achramowicz believes that Westell would emerge as a more financially sound enterprise, and that shares are significantly undervalued at current prices.
Preferred Capital Markets, Inc. provides proprietary research and trade execution services on an agency and principal basis for the securities and options markets. Clients include institutional investors, money managers, floor traders, and high net worth individuals. Founded in 1982, Preferred Capital Markets is headquartered in San Francisco with offices in New York, Boston, Chicago and Philadelphia.
The information contained herein is not and does not purport to be a complete analysis of every material fact respecting any company, industry, or security. Preferred Capital Markets, Inc. and its affiliates make no representation as to whether any of the companies mentioned herein are in compliance with the informational reporting requirements of the Securities Exchange Act of 1934. The firm makes a market in the aforementioned security. Any statements nonfactual in nature herein constitute only current opinions or estimates, represent only the current judgment of the author(s), and are subject to change without notice. Preferred Capital Markets, Inc. (or one of its affiliates) or their partners, officers, directors, analysts, employees or customers may have an interest in the securities mentioned herein and may make purchases or sales as principal or agent of these securities, or their derivatives, while this report is in circulation. The information and opinions expressed herein do not constitute an offer or solicitation with respect to the purchase or sale of any security. Prices are as of December 17, 1999 unless noted otherwise. Transactions in securities mentioned herein may be effected only in those states where such securities are qualified for sale. Member NYSE and other principal exchanges, SIPC.
SOURCE Preferred Capital Markets, Inc
CO: Preferred Capital Markets, Inc.; Westell Technologies, Inc.; Teltrend
ST: California
IN: FIN CPR
SU: RTG
12/20/1999 09:34 EST prnewswire.com |
