Synchronoss price target lowered to $10 from $13 at Roth Capital

Roth Capital lowered the firm’s price target on Synchronoss (SNCR) to $10 from $13 and keeps a Buy rating on the shares. Q3 revenues of $42.0M were modestly below the firm’s $43.0M forecast, while Q3 AEBITDA of $12.0M was “only marginally below” the $12.7M average of the prior six quarters, notes the analyst, who cites “still challenged growth” for the firm’s lowered price target