Maxim Group Sticks to Their Buy Rating for Pareteum Corp (TEUM)


In a report released today, Allen Klee from Maxim Group reiterated a Buy rating on Pareteum Corp (TEUM), with a price target of $9. The company’s shares closed yesterday at $4.01.

Klee observed:

“We would be buyers of TEUM stock on the pullback, as we do not see any merit in several negative reports on TEUM.”

According to TipRanks.com, Klee has 0 stars on 0-5 star ranking scale with an average return of -13.5% and a 27.8% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and Atlantic Tele-Network.

Currently, the analyst consensus on Pareteum Corp is a Strong Buy with an average price target of $8.17, implying a 103.7% upside from current levels. In a report issued on April 1, Northland Securities also maintained a Buy rating on the stock with a $7.50 price target.

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The company has a one-year high of $5.93 and a one-year low of $1.45. Currently, Pareteum Corp has an average volume of 3.38M.

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Pareteum Corp. engages in the provision of mobile networking software and services. It offers mobile proprietary Software Defined Network Architecture platforms for the telecommunications industry utilizing messaging and security capabilities for the Mobile Virtual Network Operators, Internet-of-Things markets, Mobile, and Enterprise markets.

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