UPDATE: H.C. Wainwright Reiterates On RADCOM On Higher Margin Expectations

In a report published Friday, H.C. Wainwright analyst Amit Dayal reiterated a Buy rating on

, and raised the price target from $7.50 to $13.50. In the report, H.C. Wainwright noted, “We are increasing our price target on RDCM to $13.50 from $7.50 previously. This upward revision in our price target is driven by a higher confidence in the market potential for the company's MaverIQ offering. The success of this offering has been a game changer for RDCM, allowing the company to transition into a software driven story with higher margins. We had been relatively conservative with our margin outlook for RDCM as we awaited further indications of traction for MaverIQ. With the company's new $4.3M purchase order for MaverIQ announced on 11/20/2014, we now have more confidence in the company's ability to deliver stronger gross margins, and thus earnings in 2015.” RADCOM closed on Thursday at $10.31.