UPDATE: Wunderlich Securities Initiates Buy, $30 PT on Tangoe

Wunderlich Securities initiates its coverage on Tangoe TNGO with a Buy rating and a price target of $30, reflecting the company's positioning as the best expense management for Telecommunications. Wunderlich Securities says, "Having consolidated a significant number of competitors and expanded its suite of offerings via both internal development and strategic acquisitions in fixed and wireless Telecommunications Expense Management (TEM) and in Mobile Device Management (MDM), Tangoe has become a “one stop” Communications Lifecycle Management (CLM) provider. In our view, as a sector dominator, the company's accelerated revenue and earnings growth, combined with its recurring and predictable financial model, create a compelling investment that should outperform the broader market." TNGO closed at $18.60 a share.