Novatel Wireless shares could hit $20 - Barron's

NEW YORK Oct 25 (Reuters) - Novatel Wireless (NVTL.O) has a new portable Wi-Fi network device that could mean its potential to increase earnings is even stronger than analysts think and the stock could rise 67 percent, Barron's reported in its Oct. 26 edition.

Analysts expect Novatel to earn 29 cents per share this year after a loss of 4 cents per share in 2008, Barron's reported. Further gains in 2010 could push the less than $12 stock up to $20, Barron's said, citing John Bright, who follows the stock for Avondale Partners.

The battery-powered device acts as a portable Wi-Fi network, converting a cellular data signal to a Wi-Fi signal, enabling products such as a laptop computer or a Nintendo game device to access the Internet. (Reporting by Caroline Humer; Editing by Richard Chang)