Wunderlich Securities Maintains Buy Rating and $5 PT on LionBridge Technologies

A report from Wunderlich Securities reiterates its Buy rating and $5 PT on LionBridge Technologies LIOX. The report states, “Lionbridge Technologies, Inc. (LIOX) released solid results yesterday, with revenues only modestly below our forecast, but earnings well ahead. Given that the company's largest customer slowed projects in the quarter, the ability to offset its weakness with strength across the breadth of its other customers and within new ramping players should be viewed as a solid performance as should its increased (sequential) earnings despite seasonally weaker revenues." LIOX closed yesterday at $2.67.