Smith Micro Software (SMSI) shares are sharply higher this morning after C.L. King analyst Lawrence Harris upped his rating on the stock to Accumulate from Neutral.
Harris says Smith is well-positioned to benefit from the coming transition at both Sprint (S) and Verizon Wireless (VZ, VOD) to 4G wireless service. He says the company is the leading provider of connectivity management software to Sprint’s majority-owned Clearwire (CLWR) unit and its various affiliates.
He adds that Verizon intends to roll out LTE service this year in 25-30 markets, covering 100 million people.
Harris points out that Verizon, Sprint and AT&T were all 10%-plus customers for the company in 2009.
SMSI is up 43 cents, or 5%, to $8.96.
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