Oscar Gruss Upgrades RADVISION (RVSN) to Buy
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Oscar Gruss upgrades RADVISION (Nasdaq: RVSN) from Hold to Buy. Price target lowered from $7 to $6.
Oscar analyst says, "We are encouraged by RVSN’s 3Q08 results and stable outlook for the next quarter. Trading considerably below its cash, we see reasonable upside for RVSN as we expect cash to remain intact...We believe Radvision is turning the wheel in the right direction by refocusing on its enterprise business channel in tandem with maintaining a tight grip on OpEx. RVSN is trading at P/Sales of 1.22x and 1.12x our FY08 and FY09 estimates, respectively, both at a premium compared to the peer group averages."
RADVISION Ltd. (RADVISION) is a provider of products and technologies for videoconferencing, video telephony, and the development of converged voice, video and data over Internet protocol (IP) and third-generation (3G) networks.
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