Oppenheimer Remains Bullish on NICE Systems (NICE) Following Investor Meetings
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Oppenheimer reiterated an Outperform rating and $75.00 price target on NICE Systems Ltd (NASDAQ: NICE) following the company's investor meetings. Oppenheimer believes that NICE should be able to generate additional margin expansion through operating efficiencies. Also, With the acquisition of inContact and Nexidia, and the exit of security, NICE sees its TAM expanding to $15B from $2B.
Analyst Shaul Eyal commented, "This week, NICE participated in Oppenheimer-sponsored investor meetings in Europe. Over the past two years, NICE has methodically improved its execution. Focus has been improved (exit of security); profitability has been improved (multiple initiatives), and excess cash has been deployed (buybacks, dividends, acquisitions). In addition, the company's bolstered Cloud capabilities present opportunities to extend its market presence in both Customer Interaction and Financial Crime. Profitability is improving, and recurring revenue is rising, and still, we believe there is more improvement to come. Reiterate Outperform."
Shares of NICE Systems Ltd closed at $66.92 yesterday.
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