Wells Fargo Starts Nuance Communications (NUAN) at Market Perform; Leadership Position Costs
Tweet
Share
E-mailGet Alerts NUAN Hot Sheet
Price: $55.99 --0%
Rating Summary:
8 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 9
Rating Summary:
8 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 9
Join SI Premium – FREE
Wells Fargo initiates coverage on Nuance Communications (NASDAQ: NUAN) with a Market Perform. PT range $28-29.
Wells analyst said, "We recognize that NUAN holds a leadership position in voice recognition technology and are optimistic about the long term growth opportunity in the company’s Mobile / Consumer and Healthcare verticals. Furthermore, we believe the recent increase in public perception around voice recognition technology created by the iPhone (Nasdaq: AAPL) and Siri will drive further device manufacturer wins for NUAN. Near term though, we are cautious on the stock as Street expectations were too high going into what proved to be a soft FQ1 report. As a result, we see little upside to the company’s FY2012 guidance as the mid point and high end imply mid to high teens revenue growth in H 2 2012 from H1 2012."
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 $26.99 yesterday.
Wells analyst said, "We recognize that NUAN holds a leadership position in voice recognition technology and are optimistic about the long term growth opportunity in the company’s Mobile / Consumer and Healthcare verticals. Furthermore, we believe the recent increase in public perception around voice recognition technology created by the iPhone (Nasdaq: AAPL) and Siri will drive further device manufacturer wins for NUAN. Near term though, we are cautious on the stock as Street expectations were too high going into what proved to be a soft FQ1 report. As a result, we see little upside to the company’s FY2012 guidance as the mid point and high end imply mid to high teens revenue growth in H 2 2012 from H1 2012."
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 $26.99 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rothschild Redburn Upgrades Apple (AAPL) to Buy
- Goldman Sachs Reinstates Etsy (ETSY) at Neutral
- AMD (AMD) to offer senior notes in four parts
Create E-mail Alert Related Categories
New CoverageRelated Entities
Wells FargoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
