Cantor Removes 'Sell' Rating from Radvision (RVSN)
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After downgrading the stock from Buy to Sell this morning, Cantor Fitzgerald has now issued a mid-day upgrade on shares of Radvision (Nasdaq: RVSN). The firm moved its investment rating to Hold, but maintained its $6.50 price target.
This morning's downgrade follows news earlier that Cisco will acquire TANDBERG in a deal valued at $3 billion. According to Cantor, Cisco is Radvision's largest customer, making up about 34% of total sales during FY07.
The firm said it has removed its Sell rating as Radvision is now essentially trading at net cash.
Cantor sees three paths for Radvision:
- the company could look for a home within a larger tech. company,
- could look to displace TANDBERG as a partner with another larger tech. players, or
- could utilize its cash position to assemble a complete vidoe conferencing solution.
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