Canaccord Genuity Reiterates a 'Buy' on Nuance Communications (NUAN); Revising Estimates

May 11, 2012 9:08 AM EDT
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Price: $20.78 +2.31%

Rating Summary:
    6 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 14 | New: 25
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Canaccord Genuity reiterates a 'Buy' on Nuance Communications (NASDAQ: NUAN) price target of $31.00.

Analyst, Richard Davis, said, "Nuance’s March quarter results shined a light on the fact that the firm’s Mobile design win prospects are quite strong, Healthcare is equally so, and Enterprise is on the recovery path. Our view is unchanged: Nuance is an above average company in terms of execution with a world-class franchise that was assembled with a decade of hard work. Advanced speech has experienced a jump condition in terms of demand, and Nuance stands a very good chance to benefit to the point where we can make a rational argument for close to 20% revenue and tax-adjusted earnings growth for the next 2-4 years. In our experience, every company that has experienced a similar growth acceleration generated meaningfully above market stock price appreciation. We see no reason why Nuance is the exception to our two decades of experience...Our revised F2012 estimates are $1.745 billion and $1.64."

For an analyst ratings summary and ratings history on Nuance Communications click here. For more ratings news on Nuance Communications click here.

Shares of Nuance Communications closed at $23.09 yesterday.

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