Leerink Partners Starts Nuance Communications (NUAN) at Outperform

Leerink Partners initiates coverage on Nuance Communications (NASDAQ: NUAN) with a Outperform rating and a price target of $19.00.

Analyst Steven Wardell commented, "We are initiating coverage of Nuance (NUAN) with an Outperform rating and a $19 price target (PT). We see NUAN as a value stock in the healthcare technology sector and we believe NUAN can return to its 5-year FY1 P/E multiple of 14x, offering a return of about 13% to investors in the next 12 months. Over the longer term, we see the stock as a call option on post-Meaningful Use hospital spend and on the Internet of Things (IoT)."

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 $16.85 yesterday.

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