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Rating Summary:
6 Buy, 5 Hold, 1 Sell
Rating Trend: Down
Today’s Overall Ratings:
Soleil Securities is reiterating its Buy rating on shares of Nuance Communications (NASDAQ: NUAN) and is raising its price target from $23 to $25 following excellent Q2 results.
During its Q2 conference that company raised the low end of its guidance range and announced an accretive acquisition for $157 million which should close by the end of the year.
The firm expects revenue growth to accelerate in FY12 to the mid teens, minimum. This comes as investments in mobility contracts come to fruition, enterprise business likely continues to recover, and the benefits from the move to a recurring model start to pay off.
Soleil comments, “We believe that the health care, mobility, and imaging businesses remain robust, and that the enterprise business is improving. Leading indicators, such as positive results in deferred revenue, contract values, and lines transcribed, are all pointing strongly upward, suggesting a robust pipeline.”
For more ratings news on Nuance Communications click here and for the rating history of Nuance Communications click here.
Shares of Nuance Communications closed at $21.62 yesterday, with a 52 week range of $14.45-$22.93.
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