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

May 11, 2012 9:08 AM EDT Send to a Friend
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Price: $15.43 -1.03%

Rating Summary:
    5 Buy, 10 Hold, 0 Sell

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    Up: 7 | Down: 12 | New: 23
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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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