UPDATE: Wunderlich Securities Reiterates Entropic Buy, $8 PT
Wunderlich Securities reiterated its Entropic (ENTR) Buy rating and $8 price target in a research report published today.
In the report, Wunderlich Securities states, "On Wednesday and Thursday of this week, we had Entropic (ENTR) management on the road to meet with investors following their conference and media appearances earlier in the week. The company had announced a partnership with and a $10 million investment in a private company named Zenverge Monday morning, which has been well received by investors and we believe reinforces our thesis of MoCA 2.0 as the future backbone of home networking. The company has also benefited from stabilizing business trends since reporting earnings in early August and we believe the stock remains undervalued."
Shares of Entropic were trading at $4.23 at the time of posting, down 4.94% from Thursday's market close.
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