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Sunday, November 27, 2005 5:34:12 AM
Mick,
I learn, slowly but surely
Clal Finance Batucha upgrades AudioCodes
Analyst Ran Israeli retains his $13 price target for the VoIP technology company.
Glodes correspondent 27 Nov 05 11:55
In the wake of the recent fall in the share price ofAudioCodes (Nasdaq: AUDC ; TASE: AUDC), Clal Finance Batucha has raised its recommendation for the VoIP technology company from "Outperform" to "Buy".
Analyst Ran Israeli retains his $13 price target for the share. This compares with a closing price in New York in Friday of $9.77, at which the company has a market cap of $394 million.
"Valuing growth technology companies has never been simple, and valuations are based on assumptions that cannot be founded on historical data. Assuming that the VoIP equipment market can be expected to grow at the rate of 30-40% in the coming years, because of VoIP's technological advantage and the substantial reduction in the price of calls, and given that AudioCodes is the leading company in its segment, in a field that the largest telecommunications equipment makers aren't necessarily active in, and in the light of the fact that the company is profitable with a strong balance sheet, we are strengthened in our view that AudioCodes will continue to present good results in the coming years," Israeli writes.
Published by Globes [online], Israel business news - www.globes.co.il - on November 27, 2005
Dubi
I learn, slowly but surely
Clal Finance Batucha upgrades AudioCodes
Analyst Ran Israeli retains his $13 price target for the VoIP technology company.
Glodes correspondent 27 Nov 05 11:55
In the wake of the recent fall in the share price ofAudioCodes (Nasdaq: AUDC ; TASE: AUDC), Clal Finance Batucha has raised its recommendation for the VoIP technology company from "Outperform" to "Buy".
Analyst Ran Israeli retains his $13 price target for the share. This compares with a closing price in New York in Friday of $9.77, at which the company has a market cap of $394 million.
"Valuing growth technology companies has never been simple, and valuations are based on assumptions that cannot be founded on historical data. Assuming that the VoIP equipment market can be expected to grow at the rate of 30-40% in the coming years, because of VoIP's technological advantage and the substantial reduction in the price of calls, and given that AudioCodes is the leading company in its segment, in a field that the largest telecommunications equipment makers aren't necessarily active in, and in the light of the fact that the company is profitable with a strong balance sheet, we are strengthened in our view that AudioCodes will continue to present good results in the coming years," Israeli writes.
Published by Globes [online], Israel business news - www.globes.co.il - on November 27, 2005
Dubi
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