UPDATE: J.P. Morgan Initiates Coverage on Audience

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According to a research report this morning, J.P. Morgan initiates an Overweight rating and a $24 PT on the leading provider of voice/audio processors, Audience
ADNC
. J.P. Morgan stated, “With exposure to the fast growing smartphone/tablet markets, the company has a significant market opportunity of 2.6B units per year by 2015. We estimate ADNC has an 18-24 month lead over competitors and its proprietary/scalable technology based on the science of human hearing should allow it to maintain high barriers to entry, in our view.” Audience closed Friday at $17.15.
Posted In: Analyst ColorInitiationAnalyst RatingsJ.P.Morgan
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