In a report published Monday, Wunderlich Securities analyst Matthew S. Robison initiated coverage on Sonus Networks (NASDAQ: SONS) with a Buy rating and $5.00 price target.
In the report, Wunderlich Securities noted, “We are initiating coverage of Sonus Networks, Inc. (SONS) with a Buy rating and a 12-month target of $5.00. Sonus achieved market expansion in time for growth catalysts in rich communications, both enterprise and mobile. 4Q14 was the start of the second year since Session Border Controllers began delivering quarterly revenue ahead of legacy gateway products. New customer additions accelerated in H212 when 220 were added after 10 in H112; since then, quarterly new customer adds more than doubled to 228 in 3Q14. With newer product addressing growth market segments, we forecast significant expansion of operating margin and earnings. Entrepreneurial CEO Raymond P. Dolan came out of retirement to run Sonus after selling Flarion to Qualcomm (QCOM – NR); in 2014 he bought 2mm shares of Sonus.”
Sonus Networks closed on Friday at $3.98.
Latest Ratings for SONS
| Dec 2014 | Wunderlich | Initiates Coverage on | Buy | |
| Dec 2014 | Wells Fargo | Initiates Coverage on | Outperform | |
| Dec 2014 | Wedbush | Initiates Coverage on | Outperform |
View More Analyst Ratings for SONS
View the Latest Analyst Ratings
See more from Benzinga
-
UPDATE: Wunderlich Securities Initiates Coverage On Mavenir Systems On Unique Growth Position
-
UPDATE: Compass Point Lowers PT On Zions Bancorporation On Near-Term Headwind
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.