There’s a lot to be optimistic about in the Services sector as 2 analysts just weighed in on Pareteum Corp (TEUM) and Moneygram International (MGI) with bullish sentiments.
Pareteum Corp (TEUM)
In a report released today, Michael Latimore from Northland Securities maintained a Buy rating on Pareteum Corp, with a price target of $8.50. The company’s shares closed yesterday at $2.80.
Latimore wrote:
“We recently spoke with a key customer that attributes much of its success to Pareteum, and sees the ability to scale to several million subscribers on the TEUM platform. Pareteum continues to add senior managers with deep software and comm experience, including the recent head of service delivery. Last week we hosted a management call as well. We believe TEUM continues to set conservative guidance.”
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 12.6% and a 54.6% success rate. Latimore covers the Technology sector, focusing on stocks such as Super League Gaming Inc, The Meet Group Inc, and Brightcove Inc.
Currently, the analyst consensus on Pareteum Corp is a Strong Buy with an average price target of $8, a 185.7% upside from current levels. In a report issued on June 10, Oppenheimer also reiterated a Buy rating on the stock.
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Moneygram International (MGI)
In a report released today, Michael Grondahl from Northland Securities maintained a Buy rating on Moneygram International, with a price target of $5.50. The company’s shares closed yesterday at $1.45, close to its 52-week low of $1.33.
Grondahl noted:
“We believe this is an ideal partnership for MGI and the long awaited senior debt refinancing is expected to close next week.”
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 20.0% and a 58.0% success rate. Grondahl covers the Financial sector, focusing on stocks such as Front Yard Residential Corporation, Altisource Portfolio Solutions SA, and Health Insurance Innovations.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Moneygram International with a $5.50 average price target.
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