Morgan Stanley Is Awaiting More Visibility On Long-Term Growth Drivers For AVG Technologies NV
In a report published Thursday, Morgan Stanley analyst Melissa Gorham reiterated an Equal-Weight rating on AVG Technologies NV (NYSE: AVG).
In the report, Morgan Stanley noted, “Ramping mobile user adds, accelerating growth in the SMB business, and significant operating leverage were highlights in a generally solid Q1. However, subscription growth again decelerated and new growth drivers around AVG Zen and mobile monetization have yet to materially come on-line. At 9X EPS, the stock is not expensive, but we remain EW amid transitions in the business.”
AVG Technologies NV closed on Wednesday at $18.57.
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