Analyst Says Comcast's (CMCSA) New Cloud PBX Uses BroadSoft's (BSFT) Broadworks

Shares of BroadSoft (Nasdaq: BSFT) have rallied about 11 percent Monday following an earlier note from Pacific Crest's Brent Bracelin.

The analyst believes Comcast's (Nasdaq: CMCSA) new private branch exchange service is enabled by BroadSoft's Broadworks platform. Bracelin said the ongoing shift from on-premise PBX systems to cloud-based, software as a service systems gives him more conviction in his call for upside in BroadSoft shares.

Bracelin maintains an Outperform rating and $52 price target on shares of BroadSoft. With the stock last trading at $42.17, the Pacific Crest analyst's price target suggests potential upside of about 23 percent.

To track all the market-moving analyst action on shares of BroadSoft, visit our Analyst Ratings page.

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