UPDATE: Lake Street Capital Initiates Vringo at Buy on Growing Asset Base

Lake Street Capital initiated Vringo VRNG with a Buy rating and a $6.00 price target. Lake Street Capital analyst Mark Argento commented, "Vringo has quickly become a key player in the IP management sector. It has parlayed its initial success against Google, using its search IP portfolio, to create a robust, diversified IP platform, with the addition of a wireless infrastructure portfolio from Nokia. Under the stewardship of a strong IP management team, we expect Vringo will continue to unlock value from its growing IP assets while being opportunistic in sourcing new IP assets." Vringo closed at $2.98 on Friday.