Barrington Research Starts Sonic (SONC) at Market Perform

Barrington Research initiated coverage on Sonic (NASDAQ: SONC) with a Market Perform rating.

Analyst Ted Moreau said, "Sonus Networks currently trades at approximately 3.1x our FTM (period ending June 2015) sales estimate of $308 million. This 3.1x FTM Price/Sales multiple is slightly above Sonus Networks historical FTM Price/Sales multiple average of 2.8x over the past five years. We recognize that an improvement in profitability warrants multiple expansion, but we are not ready to assign a higher multiple at this time."

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

Shares of Sonic closed at $22.65 yesterday.

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