Sequans awarded contracts to provide TD-LTE end user devices to China Telecom Sequans Communications (SQNS) announced that two of its device manufacturing partners in China, Datang Mobile and DareGlobal, have been awarded contracts to provide Sequans-powered TD-LTE end user devices to China Telecom (CHA) for the operatorís commercial launch of TD-LTE service beginning in Q2. Both devices are single-mode TD-LTE CPE units that will provide China Telecom customers with internet access at 4G speed. Datang Mobile is one of Chinaís leading TDD system and equipment suppliers, and DareGlobal is a leading provider of broadband mobile terminals
Sequans upgraded to Buy from Hold at Needham Needham upgraded Sequans to Buy with a $2.50 price target following the announcement of a $12M private placement of convertible notes in a private placement. The firm said the financing alleviates liquidity concerns and closes the funding gap.
On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: American Tower (AMT) upgraded to Outperform from Neutral at Macquarie... Ameriprise (AMP) upgraded at Morgan Stanley... Builders FirstSource (BLDR) upgraded to Buy from Neutral at Sterne Agee... China Telecom (CHA) upgraded to Outperform from Market Perform at Bernstein... China Unicom (CHU) upgraded to Outperform from Underperform at Bernstein... Discover (DFS) upgraded to Overweight from Neutral at JPMorgan... EV Energy (EVEP) upgraded on asset sale at RBC Capital... GoPro (GPRO) upgraded to Overweight from Neutral at Piper Jaffray... Intel (INTC) upgraded on valuation at RBC Capital... Nike (NKE) upgraded to Overweight from Neutral at Piper Jaffray... Nokia (NOK) upgraded to Market Perform from Underperform at Bernstein... Rice Energy (RICE) upgraded to Buy from Neutral at Goldman... Staples (SPLS) upgraded to Buy from Hold at BB&T... Team (TISI) upgraded to Buy from Hold at BB&T... Ulta Salon (ULTA) upgraded to Overweight from Neutral at Piper Jaffray.
China Telecom upgraded to Outperform from Market Perform at Bernstein Bernstein upgraded China Telecom to Outperform saying the opening of the Hong Kong/Shanghai connect and upside from the JV Tower Co will provide significant support for the sector.