UPDATE: Loewen Ondaatje McCutcheon Initiates Telular at Buy

Loewen Ondaatje McCutcheon initiated coverage on Telular

with a Buy rating and a $16 price target. Loewen Ondaatje McCutcheon said, "The Telguard wireless home/office security alarm communication solution is benefitting from a successful expansion into the independent dealer channel, and has migrated entirely to 3G/4G communicators. We believe this places Telguard in a strong competitive position as households migrate away from landlines (forcing the alarm system to have a dedicated cellular link) and as wireless operators start to reallocate 2G spectrum for 4G use." Telular closed at $9.85 on Wednesday.