UPDATE: Imperial Capital Reiterates Outperform Rating, Lowers PT on Verint Systems
In a report published Friday, Imperial Capital reiterated its Outperform rating on Verint Systems (NASDAQ: VRNT), but lowered its price target from $38.00 to $36.00.
Imperial Capital noted, “We are maintaining our Outperform rating and lowering our one-year price target to $36 from $38. We continue to see long-term growth for the company's unified suite and customer analytics solutions, though we expect greater macroeconomic headwinds in the EMEA region and revenue weakness in the Video Intelligence business due to a mix shift away from lower margin hardware products. We believe the planned merger of Verint and Comverse Technology remains on track for February 2013, which could represent a near-term catalyst for the stock.”
Verint Systems closed on Thursday at $27.46.
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