Carrier Access "buy," target price raised

09/04/06 - Wedbush Morgan Securities

NEW YORK, September 4 (newratings.com) - Analysts at Wedbush Morgan reiterate their "buy" rating on Carrier Access Corporation (CACS). The 12-month target price has been raised from $9 to $10.

In a research note published on September 1, the analysts mention that the company is expected to be one of the principal beneficiaries of the ongoing Advanced Wireless Services (AWS) auction. Carrier Access’ relationship with existing customers is expected to open avenues for new contract wins for the company in 2007, the analysts say. The company’s customers, T-Mobile and Cingular, have a 40% share in the auction’s total bidding amount, Wedbush Morgan adds.