In a report published Monday, Brean Capital analyst Todd Mitchell reiterated a Buy rating and $14.00 price target on SeaChange International SEAC.
In the report, Brean Capital noted, “SeaChange is in the penalty box after missing, and guiding down, for two quarters in a row. The company continues to maintain that the stars are aligning for a strong ramp in revenue and profits in F2016, but the combination of minimal disclosure of the company's business segments, an unwillingness to commit to F1Q15 guidance, and poor articulation of the company's growing opportunity has made it hard for investors to support the stock. However, our independent due diligence confirms the potential for a reversal of fundamental trends in 2HF15, and the potential for dramatically improved results in F2016. Moreover, we continue to maintain our belief that the company's strategic position makes it an attractive acquisition target, particularly at its current valuation. As a result, we are maintaining our Buy rating and $14 price target.”
SeaChange International closed on Friday at $9.58.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in