UPDATE: Wunderlich Securities Initiates Coverage on Entropic Communications

Wunderlich Securites has published a research report on Entropic Communications ENTR Initiating Coverage on the company. In the report, Wunderlich Securities wrote, "Entropic is the leading silicon supplier of MoCAbased solutions that enable service providers to deliver whole home video entertainment. We expect MoCA to continue to expand its penetration in the U.S. market, which has ~100 mil pay TV homes and we believe ENTR's MoCA 2.0 solution to be the silicon of choice for next-generation IP-based multimedia gateways, which we expect to ramp aggressively in 2013." Wunderlich Securities rated Entropic a BUY with a price target of $8.00. Wunderlich closed Wednesday at $3.57.