Barclays Maintains an 'Overweight' on Comverse Technology (CMVT); Asset Monetization Plans Continue

Barclays maintains an 'Overweight' rating on Comverse Technology (OTC: CMVT), price target $8.

Barclays analyst says, "While Ulticom's (Nasdaq: ULCM)sale to Platinum Equity generates a modest impact to Comverse's shares, the deal should further ease recent liquidity concerns as well as demonstrate management's intention to seek out and execute strategic alternatives for its broad portfolio of assets...Given the modest
premium (~5% to Monday's closing price) the per share impact of Ulticom's sale is
relatively immaterial to our sum-of-the-parts analysis of ~$8 per share which assumed market values for the company's stake in Ulticom and Verint...However, the deal should ease Comverse's recent liquidity concerns."

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