DA Davidson Assumes NICE Systems Ltd (NICE) at Neutral
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Rating Summary:
11 Buy, 12 Hold, 0 Sell
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Today's Overall Ratings:
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DA Davidson analyst Clark Wright assumes coverage on NICE Systems Ltd (NASDAQ: NICE) with a Neutral rating and a price target of $195.00.
The analyst commented: "This morning NICE announced it had entered into an agreement to acquire Cognigy, a private conversational AI & automation provider for $955M. We have a positive stance on the strategic move, but note that the valuation is steep given the company's current scale, and the platform capabilities appear to accelerate R&D initiatives the company is already pursuing. The deal will be funded with cash on hand without disrupting the company's existing $500M share repurchase program which we see as a positive. We are assuming coverage with a NEUTRAL rating and maintaining our $195 PT (14x 2025 FCF)."
For an analyst ratings summary and ratings history on NICE Systems Ltd click here. For more ratings news on NICE Systems Ltd click here.
Shares of NICE Systems Ltd closed at $162.42 yesterday.
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