Brean Murray Carret & Co. Expects SeaChange (SEAC) To Be Acuired If...
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Price: $3.35 --0%
Rating Summary:
5 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Brean Murray Carret & Co. maintains a 'Buy' on SeaChange International (NASDAQ: SEAC) price target of $11.00.
Analyst, Todd Mitchell, said, "...Multiples might seem rich at first glance, but SeaChange is expected to have $120 million, or nearly $4 per-share, in cash after it closes the sale of Media Services. If SeaChange is successful in maintaining its market position through this period of transition, we believe it is well positioned to be acquired by a more diversified strategic buyer.
"Shares of SEAC are inexpensive relative to peers and underlying growth rates...We believe SeaChange is well positioned to capitalize on the transition to TV Everywhere...We believe all three of SeaChange’s product lines are well positioned to capitalize on spending trends. With Comcast (Nasdaq: CMCSA)(Buy) leading, we expect virtually every MSO to invest in three screen delivery...We project fiscal 2013 revenue of $155 million, adj. EBITDA of $18 million, and non-GAAP EPS of $0.45 (and FY14 EPS of $0.60)."
For an analyst ratings summary and ratings history on SeaChange International click here. For more ratings news on SeaChange International click here.
Shares of SeaChange International closed at $8.05 yesterday.
Analyst, Todd Mitchell, said, "...Multiples might seem rich at first glance, but SeaChange is expected to have $120 million, or nearly $4 per-share, in cash after it closes the sale of Media Services. If SeaChange is successful in maintaining its market position through this period of transition, we believe it is well positioned to be acquired by a more diversified strategic buyer.
"Shares of SEAC are inexpensive relative to peers and underlying growth rates...We believe SeaChange is well positioned to capitalize on the transition to TV Everywhere...We believe all three of SeaChange’s product lines are well positioned to capitalize on spending trends. With Comcast (Nasdaq: CMCSA)(Buy) leading, we expect virtually every MSO to invest in three screen delivery...We project fiscal 2013 revenue of $155 million, adj. EBITDA of $18 million, and non-GAAP EPS of $0.45 (and FY14 EPS of $0.60)."
For an analyst ratings summary and ratings history on SeaChange International click here. For more ratings news on SeaChange International click here.
Shares of SeaChange International closed at $8.05 yesterday.
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