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Why Sierra Wireless Stock Popped Today

TheMotleyFool

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Shares of Sierra Wireless (NASDAQ: SWIR) have popped today, up by 11% as of 3 p.m. EST, after the company received a bullish initiation from Wall Street. B. Riley Securities kicked off coverage of Sierra Wireless with a buy rating alongside a price target of $23.50, which represents over 40% upside from yesterday's close.

The tech company, which makes wireless communications modules that help power the Internet of Things (IoT), has had a rough few years, but analyst Josh Nichols believes that Sierra Wireless is setting the stage for a comeback.

Image source: Getty Images.

Source Fool.com

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