BWS Financial Initiates Coverage on Neutral Tandem (TNDM) with a Buy

March 16, 2009 9:23 AM EDT

BWS Financial initiates coverage on Neutral Tandem (Nasdaq: TNDM) with a Buy rating and $30 price target.

BWS analyst says, "TNDM has created a business where the Company is dependent on voice traffic and carriers looking to save costs while not realizing a downgrade in service. This is a combination that is not likely to go away for a very long time. TNDM is relatively new to the market, as the Company has not yet reached all available markets. The growth rate should stay above 20 percent for the next three years, and above 15 percent through 2015. The snowball effect from new numbers being switched-on on the network creates the catalyst where TNDM does not need to market extensively to retain market share."

Neutral Tandem, Inc. (Neutral Tandem) is a provider of tandem interconnection services to competitive carriers, including wireless, wireline, cable and broadband telephony companies.

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