Wunderlich Securities Maintains Buy, $9.50 PT on PCTEL
Wunderlich Securities reiterates its Buy rating and $9.50 price target on PCTEL (NASDAQ: PCTI) as recent filing indicated progress for PCTEL secure.
Wunderlich Securities notes, "PCTEL, Inc. (PCTI) revenues are from sales of mobile network test equipment and antennas. We believe the disclosure of plans to accelerate ownership of the PCTEL Secure joint venture indicates improving visibility toward financial returns. PCTEL Secure is the company's initiative to participate in the mobile device industry with technology for making smartphones secure for sensitive government agencies."
PCTI closed at $7.48 per share on Wednesday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.