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Fly News Breaks for May 11, 2016
NUAN
May 11, 2016 | 08:00 EDT
Oppenheimer analyst Shaul Eyal says Nuance reported Q2 revenue at the lower end of guidance and EPS above estimates, but trimmed its revenue guidance for 2016 reflecting an ongoing shift in the healthcare division to cloud and recurring models and the weakening mobile handset business. The analyst hopes Q2 revenue results and guidance are a "minor bump" not indicative of future revenue performance, but notes that the trimmed revenue guide, while not dramatic, is "slightly discouraging." Eyal reiterates an Outperform rating and $26 price target on the shares.
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