Ulticom "buy," target price raised - update

09/13/06 - Wedbush Morgan Securities

NEW YORK, September 13 (newratings.com) - Analyst Scott P Sutherland of Wedbush Morgan reiterates his "buy" rating on Ulticom Inc (ULCM), while raising his estimates for the company. The 12-month target price has been raised from $13.50 to $14.00.

In a research note published yesterday, the analyst mentions that Ulticom has posted robust 2Q results. Ulticom's share price is likely to be supported in the near term by the company’s healthy cash position and profitable model, the analyst says. The company has delayed its 10-Q filing, Wedbush Morgan adds. The EPS estimate for 2006 has been raised from $0.44 to $0.46 to reflect robust 2Q results and higher-than-expected guidance for 3Q and FY06.