Brean Murray Reiterates Buy on Syniverse (SVR); $26 PT
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Brean Murray reiterates its Buy rating on Syniverse (NYSE: SVR) and raises its price target from $25 to $26.
The firm mentions comments by Syniverse's management: sees "a continuation of dramatic growth of mobile subscribers accessing data, which is driving growth of Syniverse's roaming and clearing transactions."
Brean Murray said its new price target on Syniverse is based on a 10x EV/EBITDA multiple.
Syniverse Holdings, Inc. provides wireless voice and data services for telecommunications companies. [BCS]
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