Auriga Starts Broadsoft (BSFT) at Buy; IP Flexibility Both Provocative and Advantageous

Auriga initiates coverage on Broadsoft (NASDAQ: BSFT) with a Buy. PT $50.00.

Analyst, Kevin Dede, said, "Our bullish stance on BroadSoft is based both positive commentary from one of the company's key customers compounded by the unique position and opportunity we see the company has in addressing applications on IP-based telecoms networks. Carriers are driving to IP quickly, and we believe BroadSoft stands to gain on the transition. While our price target implies an aggressive price-to-earnings multiple, we believe we could see earnings acceleration as the year progresses and the stock has traded to lofty heights in its short history as a public company; our $50 price target is based on 30x our $1.65 2013 EPS estimate."

For an analyst ratings summary and ratings history on Broadsoft click here. For more ratings news on Broadsoft click here.

Shares of Broadsoft closed at $42.81 yesterday.

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