Oppenheimer Reports on Neutral Tandem (TNDM)

Oppenheimer released a report yesterday on Neutral Tandem TNDM. In the report, Oppenheimer had a neutral outlook on the company. Oppenheimer writes, “TNDM reported strong 1Q11 results primarily on the strength in the core voice business. Unchanged average rates per minute and accelerated volume growth were encouraging, but we remain concerned about potential share losses upon expiration of term contracts in the next 12 months, Positively, the expected Dutch auction should provide support for the shares, and traffic growth form IXCs and international carriers is a competitive differentiator (and also higher rate traffic). Negatively, results from Tinet (the acquisition that is expected to drive growth in the business) were flat.” Oppenheimer has a Perform rating on Neutral Tandem. Shares of the company closed the trading day yesterday at $15.89, up from the opening price of $15.51.