Roth MKM upgraded Synchronoss (SNCR) to Buy from Neutral with a price target of $13, up from $11. The company’s streamlined operations and elevated adjusted EBITDA levels in Q2 and Q3 appear to offer a “narrow, but potentially growing,” path to begin accruing equity shareholder value after paying its “burdensome” debt interest and elevated software capitalization costs, the analyst tells investors in a research note. The firm says a path to build shareholder value is emerging for Synchronoss.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SNCR: