Market Overview

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

Related CALL
3 Israeli Stocks to Consider Selling
Morning Market Losers

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.

Posted-In: Oppenheimer HoldingsAnalyst Color Reiteration Analyst Ratings

 

Related Articles (CALL)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters