Oppenheimer Lifts Price Target On Nuance Comm (NUAN), Sees Near-Term Catalysts Ahead

Oppenheimer raised their price target on Outperform-rated Nuance Communications (NASDAQ: NUAN) from $25 to $30 saying the stock continues to offer a compelling investment opportunity on speech recognition and analytics.

The firm notes while Nuance is observed as a derivative play on the iPhone 4S launch, they remind investors that Health care (40%), Enterprise (25%) and Imaging (10%) solutions are all benefiting from strong secular industry trends.

The firm sees near-term catalysts such as 1) NUAN's 11/22 reporting date and 2) Its upcoming 12/8 investor day should provide more granularity as to NUAN's drivers, dynamics and growth opportunities.

For more ratings news on Nuance Communications click here and for the rating history of Nuance Communications click here.

Shares of Nuance Communications closed at $26.03 yesterday.

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