Spok price target raised to $18 from $15.50 at Lake Street

Lake Street analyst Eric Martinuzzi raised the firm’s price target on Spok to $18 from $15.50 and keeps a Buy rating on the shares. Software revenue growth of 4% and better-than-expected wireless performance drove the company’s top line beat, the analyst tells investors in a research note. Demand for wireless units is still expected to decline, though the firm expects future price increases and the GenA pager to at least partially offset the drop in demand, the analyst tells investors in a research note.