Wedbush Sees Value in TeleCommunication Systems, Reiterates Outperform

Wedbush reiterated its TeleCommunication Systems TSYS Outperform rating and $4.50 price target in a research report published Friday on the company's GAAP accretive acquisition of microDATA for a total valuation of $37 milllion. In the report, Wedbush stated, "While justified given recent execution and management of expectations, with solid backlog, upcoming master contracts, valuable patent assets and IP monetization efforts, we see potential upside to our price target." Shares of TeleCommunication Systems were trading at $1.44 at the time of posting, down 5.26 percent from Thursday's market close.