UPDATE: Wedbush Color on Neutral Tandem PT Increase

Wedbush, which raised its PT on shares of Neutral Tandem TNDM, is providing some color on the stock. “We are encouraged by the $52-million stock repurchase and are adjusting our estimates to reflect this,” Wedbush writes. “However, we would remain on the sidelines as we continue to track adoption of new services and organic growth in what we believe is a price competitive core business.” Neutral Tandem closed Tuesday at $16.01.