Crexendo initiated with a Buy at D. Boral Capital

D. Boral Capital analyst Jesse Sobelson initiated coverage of Crexendo (CXDO) with a Buy rating and $7 price target Crexendo is a cloud communication services and platform provider, primary offering unified communications as a service sold through long-term contracts at both the retail and wholesale level, the analyst tells investors in a research note. The firm sees the company in a good position to continue expanding margins and realizing powerful operating leverage, while accelerating its sales above current expectations.