Loading...
Loading...
Deutsche Bank has published a research report on Tangoe
TNGO after IBM
IBM announced this morning that it would be acquiring Emptoris, a move that Deutsche Bank sees as positive for Tangoe.
In the report, Deutsche Bank writes, "IBM (Buy, USD188.72) this morning announced that it is acquiring Emptoris, a provider of on-demand supply chain software. We note that Rivermine, a smaller telecom expense management (TEM) competitor of Tangoe, was recently acquired by Emptoris. We believe the Emptoris acquisition is focused on IBM's efforts to beef up its software business. IBM's relationship with Tangoe is on the consulting (Global Services) side of the business and we therefore don't see the Rivermine segment as directly competitive or disruptive to the IBM partner relationship."
Deutsche Bank maintains its Buy rating and $18 price target on Tangoe, which is currently trading up $0.40 from yesterday's $14.53 closing price.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in