Wunderlich Securities Initiates Coverage of Falconstor Software with Buy and PT of $6

Wunderlich Securities initiated its coverage of Falconstor Software

with a Buy rating. At the same time, Wunderlich placed its price target on the company's stock at $60. In a research report published today, Wunderlich states, "We are initiating coverage of FalconStor Software, Inc. (

) with a Buy rating and a price target of $6.00... We believe strong growth in the branded business will drive a return to a positive revenue growth trajectory and that the SEC investigation will see resolution in a moderate time frame. We believe the combination of these factors will drive multiple expansion moving forward." On Thursday, Falconstor added 3.55% to its value to close the day at $3.79.