Jefferies Maintains Hold Rating on Brightpoint Inc.

Jefferies & Company has maintained its Hold rating on Brightpoint Inc. (CELL). Jefferies reports,"We expected strong revenues but margin pressures. The Touchstone acq and a mix shift from EMEA to Asia pushed GM lower but ASPs higher for both Logistics and Distribution. Overall, results and guidance were in line. We continue to think CELL has the ability to benefit from smartphone growth, thereby driving ASP and potentially margin growth, but this appears to mostly be priced into the stock at current levels. Brightpoint Inc. shares closed at $10.12 on Friday.