Avaya (AVYA) Rumored JV with RingCentral (RNG) 'Makes No Sense' - BWS Financial

BWS Financial analyst Hamed Khorsand weighed in on Avaya Holdings (NYSE: AVYA) following reports of a JV with RingCentral (NYSE: RNG) instead of a full buyout.

Khorsand calls the rumors the latest in the "self-created drama" and said a JV deal "makes no sense."

"RNG should be buying AVYA not forming a JV, which looks more like posturing by AVYA’s Board to show that it did something than actually creating value," the analyst commented.

The firm reiterated a Buy rating and $22.00 price target on AVYA.

For an analyst ratings summary and ratings history on Avaya Holdings click here. For more ratings news on Avaya Holdings click here.

Shares of Avaya Holdings closed at $11.53 yesterday.

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