UPDATE: Wedbush Maintains Neutral on Broadsoft; Raises PT from $27 to $35
Wedbush maintained a Neutral rating on Broadsoft (NASDAQ: BSFT) and increased its price target from $27 to $35.
Wedbush commented, “The company delivered a solid top-line beat and a significant bottom-line beat on the strength of its hosted UC business led by robust growth out of Europe. After disappointing with guidance the past few quarters, management raised its 2012 outlook reflecting an improvement into the visibility and timing of orders from new and existing customers. We think the improvement in visibility should last through the September quarter given management's comments that all geographic regions should deliver growth next quarter.”
Broadsoft closed at $27.90 on Monday.
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