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Fly News Breaks for November 7, 2017
VG
Nov 7, 2017 | 15:28 EDT
Craig-Hallum analyst George Sutton notes that he has been bullish on Vonage's stock, suggesting this is his favorite in the UCaaS space. Given the strong results and guidance posting, the analyst says he was "right for the wrong reasons" as consumer churn slowed, driving higher free cash flow and EBITDA. Sutton expects the increased focus on enterprise customers and the increased attachment of the Nexmo offering with its UCaaS customers to remain very compelling drivers of growth and investor attention. The analyst reiterates a Buy rating on the shares, while raising his price target on the stock to $11 from $10.
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