UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Boingo Wireless Following Solid 2Q13 Results

In a report published Thursday, Jefferies analyst Thomas Seitz reiterated a Hold rating on

, and raised the price target from $6.50 to $7.50. In the report, Jefferies noted, “WIFI reported 2Q13 results that were better than expected as the company continued to further diversify its rev stream away from retail subscription & single-use segments & towards wholesale & advertising. WIFI won important DAS deals from University of Arizona and others in the wholesale segment, & launched a new advertising product, which gives us incrementally more confidence in the company's strategy. We maintain our Hold rating, PT goes to $7.50 (+$1).” Boingo Wireless closed on Wednesday at $7.54.