UPDATE: Jefferies Starts Clearwire (CLWR) at Buy

UPDATE: Jefferies initiates coverage on Clearwire (NASDAQ: CLWR) with a Buy rating and $3 price target.

The firm comments, "Wireless data usage is growing exponentially, however, wireless spectrum is limited - the prospect of spectrum crunch is real. Clearwire's deep nationwide spectrum, its recently enunciated LTE plan, and liquidity from recent financing to fund the upgrade, make it a viable wholesale partner to any wireless operator, in our view. Catalysts include incremetal wholesale deals, additional vendor/debt financing and/or spectrum sales."

For an analyst ratings summary and ratings history on Clearwire click here. For more ratings news on Clearwire click here.

Shares of Clearwire closed at $2.03 yesterday.

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