UPDATE: Jefferies Lowers Target on DynaVox to $6
Jefferies maintains its Buy rating on DynaVox (NASDAQ: DVOX) but lowers its price target to $6 from $8 as macro forces continue to impact results and cloud outlook.
Jefferies notes, "DVOX posted fiscal 2Q results below our model, reflecting a challenging state and education spending environment—headwinds which are likely to persist and which lead to a tempering of our estimates. Still, we believe the company's sales strategy is sound and should serve the company well longer-term, particularly as macro trends stabilize."
DVOX closed at $4 a share yesterday.
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