Analyst Says Comcast's (CMCSA) New Cloud PBX Uses BroadSoft's (BSFT) Broadworks
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Price: $54.90 --0%
Rating Summary:
1 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
1 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Shares of BroadSoft (Nasdaq: BSFT) have rallied about 11 percent Monday following an earlier note from Pacific Crest's Brent Bracelin.
The analyst believes Comcast's (Nasdaq: CMCSA) new private branch exchange service is enabled by BroadSoft's Broadworks platform. Bracelin said the ongoing shift from on-premise PBX systems to cloud-based, software as a service systems gives him more conviction in his call for upside in BroadSoft shares.
Bracelin maintains an Outperform rating and $52 price target on shares of BroadSoft. With the stock last trading at $42.17, the Pacific Crest analyst's price target suggests potential upside of about 23 percent.
To track all the market-moving analyst action on shares of BroadSoft, visit our Analyst Ratings page.
The analyst believes Comcast's (Nasdaq: CMCSA) new private branch exchange service is enabled by BroadSoft's Broadworks platform. Bracelin said the ongoing shift from on-premise PBX systems to cloud-based, software as a service systems gives him more conviction in his call for upside in BroadSoft shares.
Bracelin maintains an Outperform rating and $52 price target on shares of BroadSoft. With the stock last trading at $42.17, the Pacific Crest analyst's price target suggests potential upside of about 23 percent.
To track all the market-moving analyst action on shares of BroadSoft, visit our Analyst Ratings page.
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