Wedbush Maintains Nuance Communications Underperform, $18 PT

Wedbush maintained its Nuance Communications (NASDAQ: NUAN) Underperform rating and $18 price target in a research report published today.

In the report, Wedbush states, "As expected, Nuance's Analyst Day showcased products and key growth opportunities. While we like Nuance's focus on the growing speech market, we still see competition in several areas. We expect shares to underperform given lagging cash flow, modest organic growth, and premium valuation."

Shares of Nuance Communications were trading at $24.43 at the time of posting, up 2.78% from Thursday's market close.