Evolving Systems initiated at Buy by D.A. Davidson

D.A. Davidson initiates Evolving Systems (EVOL) at Buy with a PT of $12.

Analyst Donna Jaegers: "We think that as cheaper smartphone handsets and the roll-out of LTE networks increase competition for customers in the developing world, EVOL's Activation and Dynamic SIM products are well positioned to gain more traction with wireless carriers. With orders from MTN Group and another Mid-Eastern carrier announced in Q3, and with a presence in several large developing world carriers, we expect EVOL to win more orders in Latin America, Africa, India, and China in the next two years."

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