Tenneco withdrawing Q1, FY20 guidance due to COVID-19 impact » 06:0404/0304/03/20
Tenneco (TEN) provided a…
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Avaya Cloud launch is significant opportunity for RingCentral, says Jefferies » 21:0603/3103/31/20
Jefferies analyst Samad…
Jefferies analyst Samad Samana keeps a Buy rating on RingCentral (RNG) shares with a price target of $245, saying the launch of Avaya (AVYA) Cloud Office, or ACO, by RingCentral is a "significant opportunity" for the company that will drive strong growth for years to come. The analyst notes that ACO enables voice calls, team messaging, meetings, conferencing, and file sharing, adding that the deal should also accelerate RingCentral's move internationally as well as upmarket. Samana further notes that because of COVID-19 however, it may take until 2021 before ACO makes any material financial impact on RingCentral.
Avaya 'Office' catalyst for RingCentral a go, says Raymond James » 15:1603/3103/31/20
Raymond James analyst…
Raymond James analyst Brian Peterson notes that RingCentral (RNG) and Avaya (AVYA) announced the launch of Avaya Cloud Office, the UCaaS product suite that will be marketed to Avaya's existing installed base, powered by RingCentral. Long-term, Peterson sees no reason that RingCentral can't secure millions of incremental seats from the Avaya installed base, and argues that migration should be judged on a multi-year dynamic, with little near-term benefit from the deal in his 2020 numbers. His checks indicate that enterprises may be holding off on switching systems in a COVID-19 world. Once enterprises catch their breath, the analyst would not be surprised to see accelerated migration off of systems/processes that failed to scale during the COVID-19 scare. This should also benefit RingCentral when the dust settles, and should ultimately win-out over potential near-term headwinds for SMB mortality risk. He has a Strong Buy on RingCentral's shares.
Morgan Stanley adjusts auto supplier ratings, leaving Aptiv as only Overweight » 09:1303/3003/30/20
AXL, LEA, BWA, MGA, TEN, APTV
As previously reported,…
As previously reported, Morgan Stanley analyst Armintas Sinkevicius upgraded Aptiv (APTV) to Overweight from Underweight with a price target of $57, down from $60. He believes that it will take two to three years to return to pre-Coronavirus levels for auto suppliers and during the downturn he favors strong, versus levered, balance sheets, said Sinkevicius. In that context, he also downgraded American Axle (AXL) to Equal Weight from Overweight, downgraded Lear (LEA) to Equal Weight from Overweight with a $92 price target, downgraded BorgWarner (BWA) to Equal Weight from Overweight with a $25 price target, downgraded Tenneco (TEN) to Underweight from Equal Weight with a $2 price target and upgraded Magna (MGA) to Equal Weight from Underweight.
Tenneco downgraded to Underweight from Equal Weight at Morgan Stanley » 06:3703/3003/30/20
Morgan Stanley analyst…
Morgan Stanley analyst Armintas Sinkevicius downgraded Tenneco to Underweight from Equal Weight with a $2 price target.
|Over a week ago|
Avaya, Telarus sign master agent agreement » 08:1203/1903/19/20
Avaya announced that…
Avaya announced that Telarus has been named as a master agent for its Avaya Cloud Office by RingCentral offering. Avaya Cloud Office is a collaboration solution providing communications, file sharing, and collaboration capabilities across unified voice, video, messaging, digital customer engagement and meetings. Telarus will provide this new Avaya UCaaS offer to its extensive network of over 4,000 technology brokers.
Tenneco names Kenneth Trammell as interim CFO » 18:5103/1803/18/20
Tenneco announced that…
Tenneco announced that Kenneth Trammell has been appointed to the role of interim CFO, effective April 1. Trammell's appointment follows Jason Hollar's decision to leave the role of Executive Vice President and CFO in order to accept an equivalent role at a Fortune 100 company. Tenneco is conducting a search to identify a permanent replacement for the position of CFO with the assistance of a nationally recognized executive search firm.
Avaya upgraded to Overweight from Equal Weight at Morgan Stanley » 06:1103/1603/16/20
Morgan Stanley analyst…
Morgan Stanley analyst Meta Marshall upgraded Avaya to Overweight from Equal Weight with a price target of $12, down from $15. Marshall says he believes communication software is a fairly discretionary purchase and would expect investment to drop if COVID-19 outbreak were to cause more meaningful economic impact, but thinks this is most likely to hurt product revenue vs. services revenue, with product now being 40% of total revenue vs. 55% heading into the financial crisis. The analyst adds that he believes Avaya is at this point is operating in more maintenance mode with customers, and thinks Avaya is worth more than the $9-$10 it is trading at today.
Avaya upgraded to Overweight from Equal Weight at Morgan Stanley » 05:2903/1603/16/20
Morgan Stanley analyst…
Morgan Stanley analyst Meta Marshall upgraded Avaya to Overweight from Equal Weight with a $12 price target.
Avaya offers complimentary work-from-anywhere contact center solutions » 19:4803/1203/12/20
Avaya Holdings announced…
Avaya Holdings announced that it will provide additional help for contact center clients around the world who are challenged with maintaining high levels of customer engagement while they adapt to a remote workforce in the face of the COVID-19 pandemic. Available immediately, Avaya clients can request a 90-day complimentary access license to convert their existing office-based contact center agents to remote workers. In addition, at the end of the 90-day complimentary period, users have the option to convert those licenses to a monthly subscription, to offer more agility and improve availability of services for customers. Avaya has also announced the launch of global COVID-19 technical hotlines for customers and partners who are looking for 24x7 support and guidance to help transition to remote workforce deployment models.