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.
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Read More on SNCR:
- Synchronoss Technologies Reports Strong Q3 2024 Results
- Synchronoss reports Q3 adjusted EPS (26c), consensus 32c
- Synchronoss narrows FY24 revenue view to $172M-$175M from $170M-$175M
- Synchronoss renews partnership with French operator
- SNCR Earnings Report this Week: Is It a Buy, Ahead of Earnings?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
