Oppenheimer Boosts Price Target on Convergys (CVG) Following Q4 "Beat"
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Price: $24.41 --0%
Rating Summary:
1 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
1 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Oppenheimer raised its price target on Outperform-rated Convergys (NYSE: CVG) from $14 to $15 following a Q4 beat driven by call volume strength as business simplification continues.
The firm notes Q4 was solid with revenue of $589M ahead of their/consensus estimates of $577M/$581M driven primarily by strength in Customer Management on high call volumes, and expansion of existing and new clients. Adjusted EPS of $0.28 was well ahead of their/Street $0.25 estimate.
Oppenheimer are revised estimates to $2.312B/$1.06 from $2.322/$1.11 for FY12 and to $2.389/$1.19 from $2.405B/$1.25 for FY13.
For an analyst ratings summary and ratings history on Convergys click here. For more ratings news on Convergys click here.
Shares of Convergys closed at $13.32 yesterday.
The firm notes Q4 was solid with revenue of $589M ahead of their/consensus estimates of $577M/$581M driven primarily by strength in Customer Management on high call volumes, and expansion of existing and new clients. Adjusted EPS of $0.28 was well ahead of their/Street $0.25 estimate.
Oppenheimer are revised estimates to $2.312B/$1.06 from $2.322/$1.11 for FY12 and to $2.389/$1.19 from $2.405B/$1.25 for FY13.
For an analyst ratings summary and ratings history on Convergys click here. For more ratings news on Convergys click here.
Shares of Convergys closed at $13.32 yesterday.
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