Broadsoft (BSFT): License Bookings To Improve In 2017 - Jefferies
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Jefferies analyst, George Notter, reiterated his Buy rating on shares of Broadsoft (NASDAQ: BSFT) and raised his price target to $55.00 from $52.00. The analyst believes that the uptick in Professional Services revenue reflects progress with large Transformation projects and will translate into significant license revenue for 2017.
BroadSoft continues to emphasize that their competitive advantage has only improved as they continue to add features and make strategic acquisitions.
The new price target equates to 21.1x 2017 EPS, a discount to the group at 24x.
Shares of Broadsoft closed at $46.44 yesterday.
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