With the price of shares in Nice Systems (NASDAQ: NICE) enjoying a run-up of almost 60% since the beginning of 2005, UBS, the investment bank, suggests sitting back for a bit. Jonathan Half, an analyst with UBS, lowered his recommendation today to "neutral" from "buy", while leaving his target price unchanged at $54. Nice shares ended yesterday's trade on Wall Street at a price of $49. The share is down 1.6% so far today on the Tel Aviv Stock Exchange.
Analysts at UBS pointed out that the shares have risen to levels at which it is difficult to see additional upside in the near term. Additionally, they point out that shares in Nice are less attractive compared to its competitors, which include Verint Systems (NASDAQ: VRNT).
Observing that the firm raised over $200 million recently, UBS expects Nice to make an announcement on a major purchase.
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