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RingCentral price target raised to $105 from $97 at Jefferies. Jefferies analyst John DiFucci raised his price target for RingCentral (RNG) to $105 after the announced a new non-exclusive partnership with AT&T (T). The analyst notes that previously AT&T had severed this relationship in favor of a BroadSoft, which is now owned by Cisco Systems (CSCO), powered solution. AT&T coming back validates that the unified communications market is moving to the cloud and that RingCentral is the "premier asset in this market," DiFucci tells investors in a research note. He keeps a Buy rating on RingCentral shares.

RingCentral extension of AT&T partnership a net positive, says Baird. Baird analyst William Power said the deal for AT&T (T) to sell a RingCentral-based UCaaS solution called AT&T [email protected] to its enterprise customers is a net positive for RingCentral (RNG) as it should serve as another point of distribution. AT&T's decision to return to RingCentral as a technology partner seemingly validates the company's strong product, though exact terms were not disclosed and revenue will likely take some time to build, noted Power. He keeps a Neutral rating and $90 price target on RingCentral shares.

AT&T comes back to RingCentral to renew agreement, says JPMorgan. In a change of direction, AT&T (T) has come back to RingCentral (RNG) to renew its agreement to resell RingCentral solutions into the market, JPMorgan analyst Sterling Auty tells investors in a research note. It looks like RingCentral's pure cloud offering has proven to be an attractive solution in the market that allows AT&T to benefit from the leader in the space, Auty contends. He believes the agreement is "strategically positive" in RingCentral's go-to market efforts. The analyst keeps a Neutral rating on the shares.