Wedbush Starts Broadsoft (BSFT) at Neutral, Transition to IP Infrastructure Offers Growth Opportunity
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Price: $54.90 --0%
Rating Summary:
1 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Wedbush initiates coverage on shares of Broadsoft (NASDAQ: BSFT) with a Neutral rating and $28 price target based on its EV/sales analysis.
The firm is encouraged by the company's balance of risks and rewards, but does note that its current valuation does make them slightly skeptic given, "the potential for a weak global capex spending environment in 2012, fewer opportunities for margin expansion, and emerging signs of competition from larger players such as Cisco (Nasdaq: CSCO)."
The transfer to an Internet Protocol infrastructure offers an attractive growth opportunity over the next three to five years.
For FY11, the firm is forecasting EPS of $1.13 on $134.5 million in sales. Wedbush is estimating EPS of $1.15 on $160.5 million in sales for FY12.
For an analyst ratings summary and ratings history on Broadsoft click here. For more ratings news on Broadsoft click here.
Shares of Broadsoft closed at $29.59 yesterday.
The firm is encouraged by the company's balance of risks and rewards, but does note that its current valuation does make them slightly skeptic given, "the potential for a weak global capex spending environment in 2012, fewer opportunities for margin expansion, and emerging signs of competition from larger players such as Cisco (Nasdaq: CSCO)."
The transfer to an Internet Protocol infrastructure offers an attractive growth opportunity over the next three to five years.
For FY11, the firm is forecasting EPS of $1.13 on $134.5 million in sales. Wedbush is estimating EPS of $1.15 on $160.5 million in sales for FY12.
For an analyst ratings summary and ratings history on Broadsoft click here. For more ratings news on Broadsoft click here.
Shares of Broadsoft closed at $29.59 yesterday.
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