UPDATE: Beardsley Research Initiates Mind CTI at Strong Buy on Outlook, Yield
Beardsley Research initiated coverage on Mind CTI (NASDAQ: MNDO) with a Buy rating and a $3.08 price target.
Beardsley Research said, "Industry analysts expect the telecom billing market to reach $7.0 billion by the end of 2012 and estimate that the market will grow at a CAGR of 4.3% over the period of 2010-2014. We believe that MIND is well positioned to benefit from this industry growth going forward. … In the past three years, MIND has had impressive dividend yields of 10.8%, 9.4% and 9.8%, despite the economic downturn. Its current dividend yield is 12.5%."
Mind CTI closed at $2.06 on Wednesday.
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