Wells Fargo Starts Nuance Communications (NUAN) at Market Perform; Leadership Position Costs
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Price: $19.24 -0.16%
Rating Summary:
6 Buy, 8 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
6 Buy, 8 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade NUAN Now!
Wells Fargo initiates coverage on Nuance Communications (NASDAQ: NUAN) with a Market Perform. PT range $28-29.
Wells analyst said, "We recognize that NUAN holds a leadership position in voice recognition technology and are optimistic about the long term growth opportunity in the company’s Mobile / Consumer and Healthcare verticals. Furthermore, we believe the recent increase in public perception around voice recognition technology created by the iPhone (Nasdaq: AAPL) and Siri will drive further device manufacturer wins for NUAN. Near term though, we are cautious on the stock as Street expectations were too high going into what proved to be a soft FQ1 report. As a result, we see little upside to the company’s FY2012 guidance as the mid point and high end imply mid to high teens revenue growth in H 2 2012 from H1 2012."
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 $26.99 yesterday, with a 52 week range of $15.56-$31.15.
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Wells analyst said, "We recognize that NUAN holds a leadership position in voice recognition technology and are optimistic about the long term growth opportunity in the company’s Mobile / Consumer and Healthcare verticals. Furthermore, we believe the recent increase in public perception around voice recognition technology created by the iPhone (Nasdaq: AAPL) and Siri will drive further device manufacturer wins for NUAN. Near term though, we are cautious on the stock as Street expectations were too high going into what proved to be a soft FQ1 report. As a result, we see little upside to the company’s FY2012 guidance as the mid point and high end imply mid to high teens revenue growth in H 2 2012 from H1 2012."
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 $26.99 yesterday, with a 52 week range of $15.56-$31.15.
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