Brean Murray Assumes Coverage on Synchronoss Technologies (SNCR) with a Hold
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Brean Murray assumes coverage on Synchronoss Technologies (Nasdaq: SNCR) with a Hold.
Brean analyst says, "Though we like the company's revenue visibility and healthy execution in the most recent quarter, we believe recent stock price appreciation gives Synchronoss ample credit for the positives. SNCR currently trades at about 20x our FY09 pro forma EPS forecast and a comparable multiple of FCF. At the same time we are forecasting sub-10% YoY EPS growth and a 30% YoY contraction in FCF which may cap near-term share appreciation."
Synchronoss Technologies, Inc. is a provider of on-demand multi-channel transaction software management platforms that enable communications service providers (CSPs) to automate new subscriber activation, order management and service provisioning.
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