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 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.