Deutsche Bank Reiterates a 'Buy' on Nuance Communications; M*Modal Takeout Bodes Well for NUAN
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: 10 | Down: 18 | New: 20
Rating Summary:
8 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
Join SI Premium – FREE
Deutsche Bank reiterates a 'Buy' on Nuance Communications (NASDAQ: NUAN) price target of $32.00.
Deutsche analyst said, "Late yesterday M*Modal (Nasdaq: MODL) issued a press release stating One Equity Partners, the private investment arm of JPMorgan (NYSE: JPM) is acquiring MODL for $14 per share in cash (8% premium over closing price, 19% over 180-day average), in a transaction valued at roughly $1.1bn. This equates to roughly 2x FY13 consensus sales estimates, consistent with recent acquisitions made by NUAN in this space. We see this move as an indication that private equity is becoming more active in the medical transcription and electronic medical records area. We reiterate our rating on NUAN, as we believe competitive dynamics won’t meaningfully change in the near-term."
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 $23.32 yesterday.
Deutsche analyst said, "Late yesterday M*Modal (Nasdaq: MODL) issued a press release stating One Equity Partners, the private investment arm of JPMorgan (NYSE: JPM) is acquiring MODL for $14 per share in cash (8% premium over closing price, 19% over 180-day average), in a transaction valued at roughly $1.1bn. This equates to roughly 2x FY13 consensus sales estimates, consistent with recent acquisitions made by NUAN in this space. We see this move as an indication that private equity is becoming more active in the medical transcription and electronic medical records area. We reiterate our rating on NUAN, as we believe competitive dynamics won’t meaningfully change in the near-term."
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 $23.32 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Downgrades Workday (WDAY) to Hold
- Deutsche Bank Downgrades Netskope (NTSK) to Hold on Valuation
- Seaport Global Securities Downgrades JetBlue Airways (JBLU) to Neutral
Create E-mail Alert Related Categories
Analyst Comments, Mergers and AcquisitionsRelated Entities
Deutsche Bank, JPMorganSign 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!
