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

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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.

Posted-In: JP MorganAnalyst Color Initiation Intraday Update Analyst Ratings

 

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