Baird analyst Matthew Gillmor upgraded Vocera Communications to Outperform from Neutral with a price target of $32, up from $22. The stock closed Friday up 24c to $25.09. After traveling with management, the analyst has a greater appreciation for Vocera's fundamental drivers entering 2020. While the company largely reiterated commentary from the Q4 call, visibility with 2020 guidance is high and management likely took a conservative approach to key inputs, Gillmor tells investors in a research note. Further, after a transition period during 2019, the analyst believes Vocera's sales cycle has now stabilized. As such, he's optimistic that the company will return to a "beat/raise cadence." Vocera's valuation can re-rate back to three-year averages, driving the stock back above $30, contends Gillmor.