Canaccord Genuity Reiterates a 'Buy' on Nuance Communications (NUAN); Good Guidance Likely Means Now Higher Multiple Sustainable
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Price: $55.99 --0%
Rating Summary:
8 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 11 | New: 25
Rating Summary:
8 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 11 | New: 25
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Canaccord Genuity reiterates a 'Buy' on Nuance Communications (NASDAQ: NUAN) price target raised $2 to $28.00.
Canaccord analyst says, "After facing a few years of investor purgatory due to complaints of “roll up,” wide divergences of GAAP from cash flow, and periodic segment miscues, all has been forgiven as Nuance provided backbone speech technology to Apple. The reality is that while Apple won’t make Nuance rich, the iPhone 4S has created a jump condition in terms of minimum functionality that other handset manufacturers must match, or risk being viewed as substandard. This adoption curve scenario likely contributed to the guidance boost for F2012, and in our opinion it could lead to a stronger than expected F2013. Growth rate-wise, this means that NUAN’s growth is accelerating from high-single-digits in 2008 to low- to mid-teens in 2012-13...We have increased our F2012 estimates to $1.68 billion and $1.58."
For an analyst ratings summary and ratings history on Nuance Communications click here. For more ratings news on Nuance Communications click here.
Shares of Nuance Communications closed at $23.13 yesterday.
Canaccord analyst says, "After facing a few years of investor purgatory due to complaints of “roll up,” wide divergences of GAAP from cash flow, and periodic segment miscues, all has been forgiven as Nuance provided backbone speech technology to Apple. The reality is that while Apple won’t make Nuance rich, the iPhone 4S has created a jump condition in terms of minimum functionality that other handset manufacturers must match, or risk being viewed as substandard. This adoption curve scenario likely contributed to the guidance boost for F2012, and in our opinion it could lead to a stronger than expected F2013. Growth rate-wise, this means that NUAN’s growth is accelerating from high-single-digits in 2008 to low- to mid-teens in 2012-13...We have increased our F2012 estimates to $1.68 billion and $1.58."
For an analyst ratings summary and ratings history on Nuance Communications click here. For more ratings news on Nuance Communications click here.
Shares of Nuance Communications closed at $23.13 yesterday.
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