In a report released Friday, Stifel analyst Matthew Vliet upgraded CSG Systems International CSGS from Hold to Buy and introduced a $40 price target.
Analysts at Stifel like CSG Systems International's recent announcement to conduct business with Comcast, projecting to add $40 million a year by 2019. Stifel projects CSG Systems' previous conjunction with Time Warner to be extended to $60 million a year.
The $40 price target is given by a full year 2014 EBITDA multiple of 9x.
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