Oscar Gruss Downgrades RADVISION (RVSN) to Reduce; Tandberg Acquisition Reflecting Heavily on Future Prospects
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Oscar Gruss downgrades RADVISION (Nasdaq: RVSN) from Hold to Reduce. Price target lowered from $8 to $6.
Oscar analyst says, "Following Cisco’s announcement to acquire Tandberg for $2.96B, we are downgrading our rating to Reduce and lowering our PT. We anticipate the acquisition will reflect heavily on Radvision’s future prospects with Cisco. We remind that effectively half of Radvision’s network solutions revenues derive from Cisco, emphasizing Radvision’s profound reliance on this channel."
"Keeping in mind the uncertainties of Cisco’s (Nasdaq: CSCO) future stake in the revenue pie (39% in 2008), Radvision remains a valid alternative for ~20% of end-point market vendors, i.e. Lifesize, IBM (NYSE: IBM), etc. That said, we view these opportunities as limited in nature, expecting no change in Tandberg & Polycom's (Nasdaq: PLCM) predominance."
To see more analyst ratings on RVSN Click Here.
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