Wedbush Reiterates an 'Outperform' on Openwave Systems (OPWV); Selling M & M Units a Positive
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Price: $2.92 --0%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 7 | New: 6
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 7 | New: 6
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Wedbush reiterates an 'Outperform' on Openwave Systems (NASDAQ: OPWV) price target raised from $3.00 to $3.50.
Analyst, Scott Sutherland, said, "We are encouraged by the sale of Openwave’s Messaging and Mediation units to Marlin Equity Partners for $55 million. We are increasing our PT on higher valuation assumptions for Openwave’s potentially significant patent portfolio. We note that our revised sum-of-parts valuation indicates a range of $2.99-$4.16/share for Openwave. We note that this does not include assumptions for NOLs and 75 pending patents."
For an analyst ratings summary and ratings history on Openwave Systems click here. For more ratings news on Openwave Systems click here.
Shares of Openwave Systems closed at $2.59 yesterday.
Analyst, Scott Sutherland, said, "We are encouraged by the sale of Openwave’s Messaging and Mediation units to Marlin Equity Partners for $55 million. We are increasing our PT on higher valuation assumptions for Openwave’s potentially significant patent portfolio. We note that our revised sum-of-parts valuation indicates a range of $2.99-$4.16/share for Openwave. We note that this does not include assumptions for NOLs and 75 pending patents."
For an analyst ratings summary and ratings history on Openwave Systems click here. For more ratings news on Openwave Systems click here.
Shares of Openwave Systems closed at $2.59 yesterday.
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