Loewen Ondaatje McCutcheon initiated coverage on Telular WRLS with a Buy rating and a $16 price target.
Loewen Ondaatje McCutcheon said, "The Telguard wireless home/office security alarm communication solution is benefitting from a successful expansion into the independent dealer channel, and has migrated entirely to 3G/4G communicators. We believe this places Telguard in a strong competitive position as households migrate away from landlines (forcing the alarm system to have a dedicated cellular link) and as wireless operators start to reallocate 2G spectrum for 4G use."
Telular closed at $9.85 on Wednesday.
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