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March 30, 2005 Stock Pick: Brightpoint, Inc. (CELL)

Stock Price: $18.91

Brightpoint is one of the world's largest distributors of mobile phones and accessories. Brightpoint supports the global wireless telecommunications and data industry, providing quickly deployed, flexible and cost effective solutions.

The company looks well set to take advantage of the switch from voice to voice packaged in data. They have set up the place to specifically take advantage of the upcoming VoIP boom.

Revenue for the fourth quarter was $506 million with net income of $8.7 million, or EPS of $0.47. Brightpoint's revenue greatly exceeds its market cap of $368.7 million.

CELL has a P/E of just above 16. We consider CELL to be undervalued at current levels.

CELL hasn't hit a new high since early December. We believe it is set to make another run higher over the next few months.

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