Synchronoss (SNCR) Could Benefit from New 4" iPhone SE - Credit Suisse

Credit Suisse analyst Michael Nemeroff said Apple's new 4" iPhone SE could provide upside to Synchronoss Technologies (NASDAQ: SNCR) activations.

Nemeroff estimates that AAPL's new iPhone SE product cycle could generate approx. $3-5M of incremental Activation revenue in 2016.

That said, they note there could be a high degree of variability relative to the potential iPhone SE revenue impact to SNCR given: (1) actual iPhone SE unit shipments (Credit Suisse hardware team ests. ~18M sell-in units for C2016); (2) channel mix (% of units purchased through AT&T & Apple's web channel); and (3) SNCR's monetization per iPhone activation (CS ests. low-end of SNCR's historical $1-30 range)

The firm maintained an Outperform rating and price target of $47 on SNCR.

For an analyst ratings summary and ratings history on Synchronoss Technologies click here. For more ratings news on Synchronoss Technologies click here.

Shares of Synchronoss Technologies closed at $31.26 yesterday.

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