Wedbush Neutral On Neutral Tandem

Wedbush is out with a research report on Neutral Tandem

and it has a Neutral rating and a $13 price target on shares. In a note to clients, Wedbush writes, "While 2011 revenue guidance was maintained, Q2 results were below expectations and we are a bit more cautious on the margin and EPS side of the equation. We maintain our NEUTRAL stance as we monitor the progress made by the company and new CEO, as they evolve from a voice interconnection provider to a global data networking company." Shares of TNDM are down $1.67 to $10.82, a loss of 13.37%.