UPDATE: Wunderlich Securities Initiates Buy, $30 PT on Tangoe

Wunderlich Securities initiates its coverage on Tangoe (NASDAQ:

) with a Buy rating and a price target of $30, reflecting the company's positioning as the best expense management for Telecommunications. Wunderlich Securities says, "Having consolidated a significant number of competitors and expanded its suite of offerings via both internal development and strategic acquisitions in fixed and wireless Telecommunications Expense Management (TEM) and in Mobile Device Management (

), Tangoe has become a “one stop” Communications Lifecycle Management (

) provider. In our view, as a sector dominator, the company's accelerated revenue and earnings growth, combined with its recurring and predictable financial model, create a compelling investment that should outperform the broader market." TNGO closed at $18.60 a share.