Why Bandwidth Stock Was Rising This Week
Investors were eagerly calling on next-generation communications company Bandwidth (NASDAQ: BAND) over the past few days. Much of this enthusiasm can be traced to a significant price target raise from an analyst tracking the telecom stock. According to data compiled by S&P Global Market Intelligence, as of early Friday morning, the stock was up 14% week to date.
Well before market open on Thursday, B. Riley's Erik Suppiger pulled the lever on that price target increase. It was quite a change -- the analyst now believes the stock can hit $85 per share; his previous fair value assessment was $55. He maintained his buy recommendation on the stock.
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Source Fool.com
