Synchronoss upgraded to Outperform from Neutral at Credit Suisse Credit Suisse upgraded Synchronoss based on solid business momentum from AT&T smartphone unit sales, R&D tax credit extension, and the potential next iPhone launch in Q2. Price target raised to $29 from $20.
News For SNCR From The Last 14 Days
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Synchronoss price target raised to $56 from $46 at Credit Suisse Credit Suisse raised Outperform rated Synchronoss price target to $56 and increased estimates following the strong Q2 report citing rising sub growth and usage.
Synchronoss raises FY14 CapEx to reach 14%-15% of total revenue The company had previously seen FY14 CapEx to be 10% of total revenue. The updated guidance is due to trends in cloud tracking better than its original eexpectations. The company said it is still in the "early stages" of adoption in cloud business. Synchronoss also sees positive trends in its Activation Services business.