LivePerson (LPSN) To Benefit from iPhone 5 - Analyst
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Price: $2.85 -2.06%
Rating Summary:
12 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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With the iPhone 5 on pace to be the largest product launch in Apple's history, smart investors are on the lookout for derivative plays. Some have been well-known like QUALCOMM, which supplies the mobile chipset to Apple, and Cirrus Logic, which provides audio chips - others take some more digging but can prove even more lucrative.
Analysts at Oppenheimer believe LivePerson (NASDAQ: LPSN) could see ample benefit from the iPhone 5.
"We believe strong future unit sales at AT&T bode well for LPSN's 2013 revenue growth trajectory due to the historical 0.82 long-term correlation between LPSN revenue and AT&T iPhone sales," analyst Brian Schwartz states.
Correlation between past iPhone releases and shares of LPSN also bode well for investors. "For the one-month and six-month periods subsequent
to an iPhone release, LPSN shares have historically appreciated ~11% and ~34%, respectively, on average," the firm notes.
Oppenheimer reiterated their Outperform rating and price target of $22.00 on LPSN.
For an analyst ratings summary and ratings history on LivePerson click here. For more ratings news on LivePerson click here.
Shares of LivePerson closed at $18.36 yesterday.
Analysts at Oppenheimer believe LivePerson (NASDAQ: LPSN) could see ample benefit from the iPhone 5.
"We believe strong future unit sales at AT&T bode well for LPSN's 2013 revenue growth trajectory due to the historical 0.82 long-term correlation between LPSN revenue and AT&T iPhone sales," analyst Brian Schwartz states.
Correlation between past iPhone releases and shares of LPSN also bode well for investors. "For the one-month and six-month periods subsequent
to an iPhone release, LPSN shares have historically appreciated ~11% and ~34%, respectively, on average," the firm notes.
Oppenheimer reiterated their Outperform rating and price target of $22.00 on LPSN.
For an analyst ratings summary and ratings history on LivePerson click here. For more ratings news on LivePerson click here.
Shares of LivePerson closed at $18.36 yesterday.
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