NICE Systems (NICE): Raising PT After Acquisition Closes - Chardan

Chardan Capital Markets analyst, Lena Rogovin, reiterated her Buy rating on shares of NICE Systems Ltd (NASDAQ: NICE) and increased her price target to $76 after updating her model to incorporate the InContact consolidation, DCF time adjustment and latest news from the company.

The company announced that 4Q16 revenue and EPS will be above the mid-point of the previously
announced guidance ranges. It also authorized a new share buyback program of $150 mn and eliminated the dividend. Lastly, the company is issuing $225 mn in exchangeable bonds to pay-down roughly half of $475 million loan taken to finance InContact acquisition earlier in 2016.

The PT increases to $76 from $72.

For an analyst ratings summary and ratings history on NICE Systems Ltd click here. For more ratings news on NICE Systems Ltd click here.

Shares of NICE Systems Ltd closed at $69.26 yesterday.

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