Deutsche Bank Reiterates a 'Buy' on Nuance Communications; M*Modal Takeout Bodes Well for NUAN
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Price: $18.62 --0%
Rating Summary:
6 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade NUAN Now!
Deutsche Bank reiterates a 'Buy' on Nuance Communications (NASDAQ: NUAN) price target of $32.00.
Deutsche analyst said, "Late yesterday M*Modal (Nasdaq: MODL) issued a press release stating One Equity Partners, the private investment arm of JPMorgan (NYSE: JPM) is acquiring MODL for $14 per share in cash (8% premium over closing price, 19% over 180-day average), in a transaction valued at roughly $1.1bn. This equates to roughly 2x FY13 consensus sales estimates, consistent with recent acquisitions made by NUAN in this space. We see this move as an indication that private equity is becoming more active in the medical transcription and electronic medical records area. We reiterate our rating on NUAN, as we believe competitive dynamics won’t meaningfully change in the near-term."
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 $23.32 yesterday, with a 52 week range of $15.56-$31.15.
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Deutsche analyst said, "Late yesterday M*Modal (Nasdaq: MODL) issued a press release stating One Equity Partners, the private investment arm of JPMorgan (NYSE: JPM) is acquiring MODL for $14 per share in cash (8% premium over closing price, 19% over 180-day average), in a transaction valued at roughly $1.1bn. This equates to roughly 2x FY13 consensus sales estimates, consistent with recent acquisitions made by NUAN in this space. We see this move as an indication that private equity is becoming more active in the medical transcription and electronic medical records area. We reiterate our rating on NUAN, as we believe competitive dynamics won’t meaningfully change in the near-term."
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 $23.32 yesterday, with a 52 week range of $15.56-$31.15.
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