UPDATE: Wunderlich Initiates Lionbridge Technologies at Buy

Wunderlich is out with its report today on Lionbridge Technologies LIOX, initiating LIOX at Buy. In its report, Wunderlich writes, "We are initiating coverage of Lionbridge Technologies, Inc. with a Buy rating and $5.00 target price. As the global leader in outsourced language translation services, we believe factors such as increased globalization and the emergence of the Internet are key drivers to increase the need for the language translation services it offers." Shares of LIOX closed Tuesday at $2.88.