Kaufman Bros. Reinstates Coverage on SeaChange International (SEAC) at Hold; Leading VOD Player Manages to Stay Relevant

Kaufman Bros. reinstates coverage on SeaChange International (NASDAQ: SEAC) with a Hold. PT $9.00.

Kaufman analyst says, "SeaChange, a leading video on demand system supplier, has been attempting to recast itself as an infrastructure software company with mixed results amid shareholder activism...Shares have traditionally traded at a discount to peers due to: 1) inconsistent quarterly results; 2) reduced earnings power due to high expense levels; and 3) past management intransigence...That said, we continue to like the company's product portfolio and customer franchise, and see potential for continued operational improvement in fiscal 2012."

For more ratings news on SeaChange International click here and for the rating history of SeaChange International click here.

Shares of SeaChange International closed at $7.89 yesterday.

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