Market Overview

Oppenheimer Holdings Reiterates Outperform Rating, $32 PT on magicJack VocalTec

Related CALL
Stocks Hitting 52-Week Lows
magicJack VocalTec Tanks On Canaccord Genuity Downgrade And Weak Results

In a report published Friday, Oppenheimer Holdings reiterated its Outperform rating and $32.00 price target on magicJack VocalTec Ltd. (NASDAQ: CALL).

Oppenheimer Holdings noted, “MagicJack announced that 4Q12 earnings will surpass estimates, on lower spending as revenue is in line with our estimates. GAAP net income should be over $0.70/share, nearly $0.20/share above our estimate. The company also announced a change in management, naming Gerald Vento as CEO effective January 1st; founder and current CEO Dan Borislow will lead new marketing and product development initiatives. We expect the stock to trade up this morning, given its 15% FCF yield on our 2013 estimates which we are maintaining at this point. We see the next major catalyst as the launch of its new magicJack device, most likely in March or so.”

magicJack VocalTec Ltd. closed on Thursday at $16.28.

Latest Ratings for CALL

DateFirmActionFromTo
Aug 2014Canaccord GenuityDowngradesBuyHold
May 2014Canaccord GenuityMaintainsBuy
Feb 2014OppenheimerDowngradesOutperformPerform

View More Analyst Ratings for CALL
View the Latest Analyst Ratings

Posted-In: Oppenheimer HoldingsAnalyst Color Reiteration Analyst Ratings

 

Related Articles (CALL)

Around the Web, We're Loving...

Get Benzinga's Newsletters