UPDATE: JP Morgan Initiates Comverse at Neutral on Headwinds Through Early 2013
JP Morgan initiated coverage on Comverse (NASDAQ: CNSI) with a Neutral rating and a $32 price target.
JP Morgan noted, "We expect bookings headwinds to continue to weigh over the next couple of quarters, but improvement in fundamentals to take hold in 2H13. Those near-term challenges likely give us a little time to focus elsewhere before returning to Comverse Inc, so we are initiating coverage with a Neutral rating and a $32 target price."
Comverse closed at $27.37 on Wednesday.
Latest Ratings for CNSI
|Jun 2015||Goldman Sachs||Downgrades||Buy||Neutral|
|Dec 2013||First Analysis||Downgrades||Overweight||Equal-weight|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.