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. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool