BWS Financial Upgrades Inteliquent (IQNT) to Buy

BWS Financial upgraded Inteliquent (NASDAQ: IQNT) from Hold to Buy with a price target of $20.00.

"The earnings IQNT is generating and an increase in volume provides support to the fundamentals and the cash flow IQNT is able to generate while it looks to add growth to its business," said analyst Hamed Khorsand. "The risks that we thought would present themselves seem less likely at this time and we are changing our rating back to a Buy from Hold."

"New products could become a source of growth for IQNT. A topic that has been foreign for IQNT. The opportunity presents the possibility of further shareholder value creation," he added. "The headwinds for 2014 have been well disseminated by IQNT, and incorporated into guidance. Increase in amount of traffic handled should help offset the revenue loss by the fourth quarter. As it stands, we are expecting IQNT to generate approximately $2.29 per share in adjusted EBITDA in 2014 and growing to $2.38 per share in 2015."

For an analyst ratings summary and ratings history on Inteliquent click here. For more ratings news on Inteliquent click here.

Shares of Inteliquent closed at $14.65 yesterday.

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