UPDATE: Stifel Nicolaus Raises PT to $25 on Tangoe on Solid Organic Growth

Stifel Nicolaus reiterated its Buy rating on Tangoe TNGO and increased its price target from $23 to $25. Stifel Nicolaus noted, "Tangoe reported 2Q12 financial results after market close that beat our estimates, and also announced the acquisition of Symphony Teleca's TEM business for $37mn net of assets acquired, further consolidating the TEM market. While the digestion of four acquisitions in an eight-month period certainly adds a layer of uncertainty to the Tangoe story for 2H12 and going into 2013, we believe that Tangoe continues to make the right strategic moves for the long run." Tangoe closed at $20.00 on Wednesday.