NEW YORK ( TheStreet) -- China TechFaith Wireless Comm Tech (Nasdaq: CNTF) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, compelling growth in net income and attractive valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins.

China Techfaith Wireless Communication Technology Limited, together with its subsidiaries, operates as an original developed products provider that is focused on the original design and development of handsets, and sale of finished products in the People's Republic of China and internationally. The company has a P/E ratio of 10, above the average telecommunications industry P/E ratio of 9.3 and below the S&P 500 P/E ratio of 23.5. China TechFaith Wireless Comm Tech has a market cap of $181.6 million and is part of the technology sector and telecommunications industry. Shares are unchanged year to date as of the close of trading on Thursday.