UPDATE: Wunderlich Securities Initiates Coverage On Mavenir Systems On Unique Growth Position

In a report published Monday, Wunderlich Securities analyst Matthew S. Robison initiated coverage on Mavenir Systems Inc (NYSE: MVNR) with a Buy rating and $18.00 price target.

In the report, Wunderlich Securities noted, “We are initiating coverage of Mavenir Systems, Inc. (MVNR) with a Buy rating and 12-month target of $18. We believe Mavenir is uniquely positioned for growth of mobile networks led by Voice-over-LTE (VoLTE) over the next several years. With significant venture investment to be the first public company purely focused on network function virtualization, the company is positioned to exploit innovator's dilemma among incumbents and has already achieved significant customer wins. The company's mOne Convergence Platform enables product functions to be implemented in software that can be run on general purpose computing hardware. Products represent a complete solution suite for mobile operator core infrastructure ranging from mobility routing to application servers and subscriber management.”

Mavenir Systems closed on Friday at $13.24.