Wells Fargo Starts Synchronoss Technologies (SNCR) at Outperform; Growth in Revenues and Operating Margins

Wells Fargo initiates coverage on Synchronoss Technologies (NASDAQ: SNCR) with an Outperform. PT range $41-$44.

Wells analyst says, "We think SNCR is uniquely positioned within its carrier customers in that its Convergence Now and Convergence Now Plus products enable carriers to dramatically reduce activation and provisioning costs, streamline back office operations, and improve relationships with customers. We believe SNCR has the ability to grow revenue in excess of 20% per year for the next 3–5 years and that operating margin expansion could drive income growth in excess of 30%."

For an analyst ratings summary and ratings history on Synchronoss Technologies click here. For more ratings news on Synchronoss Technologies click here.

Shares of Synchronoss Technologies closed at $33.50 yesterday.

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