Wedbush Maintains Underperform, $18 PT on Nuance Communications

Wedbush reiterates its Underperform rating and $18 target price on Nuance Communications NUAN as analyst day is expected to showcase products and preview opportunities. Wedbush says, “We expect the Analyst Day to showcase products and provide an overview of opportunities. We like Nuance's focus on speech and expect speech to be increasingly adopted for various consumer electronics products. However, we remain concerned given continued weak cash flow, moderate organic growth, and premium valuation and, thus, expect shares to underperform.” NUAN closed at $24.93 per share on Monday.