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Fly News Breaks for June 14, 2016
VG
Jun 14, 2016 | 05:41 EDT
Citi analyst Michael Rollins upgraded Vonage to Buy citing a favorable risk/reward scenario given the company's opportunity to improve business revenue growth and generate a free cash flow yield at over 10%. With the Business segment poised to contribute over 50% of revenue in 2017, Vonage is positioned to return to organic consolidated revenue growth, Rollins tells investors in a research note. He upped his price target for the shares to $8 from $4.75.
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