UPDATE: BGB Securities Initiates Coverage on Computer Task Group

BGB Securities has published a research report on Computer Task Group (NASDAQ: CTGX), initiating coverage on the company.

In the report, BGB Securities wrote, "We are initiating coverage of Computer Task Group, Inc (CTGX) with a Buy rating and $14 price target. We believe that CTGX is well positioned to benefit from the increased spending expected in the healthcare vertical over the next several years. As such, our price target of $14 is based on a sum-of-the-parts of the two segments, which equates to 8.6x our CY12 EBITDA estimate of $26M."

BGB Securities rated Computer Task Group a BUY with a price target of $14.00. Computer Task Group closed Thursday at $10.52.