UPDATE: SeetThruEquity Ups Target to $9.39 on Telular Corporation

SeetThruEquity raises its price target on Telular Corporation WRLS to $9.39 from $7.55 a share on highlights from 1Q12 results. SeetThruEquity says, "FY12 estimates revised upwards to reflect acquisition of SkyBitz and Telguard Sales: We have revised our FY12 estimates upwards to reflect acquisition of SkyBitz and higher than anticipated revenues from Telguard during the quarter. Our revenue estimate for FY12 has been increased 54.3% to $82.8mn from $53.7mn. Accordingly, net income estimates have been increased 45.1% to $9.2mn from $6.3mn." WRLS closed at $7.88 a share yesterday.