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UPDATE: JP Morgan Initiates Comverse at Neutral on Headwinds Through Early 2013

Related CNSI
Comverse Expands Cloud Offering To European Service Providers
Earnings Scheduled For September 9, 2014

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

DateFirmActionFromTo
Jan 2014OppenheimerMaintainsOutperform
Dec 2013First AnalysisDowngradesOverweightEqual-weight
Dec 2012JP MorganInitiates Coverage onNeutral

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