Roth Capital Reiterates Buy On Plantronics Shares, $55 PT
In a research report issued today, Roth Capital analyst Dave King reiterated a Buy rating on Plantronics (NYSE:PLT) with a price target of $55.00.
King noted, “2QFY15 EPS exceeded expectations, as stronger gross margin offset higher expenses. UC growth reaccelerated due to an easier comparison. Management guided 3QFY15 generally in-line, with EPS growth accelerating to begin outpacing revenue. Our Buy rating reflects the significant longer-term growth opportunity in Unified Communications as well as PLT’s strong balance sheet and cash flow generation.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Dave King has a total average return of -1.2% and a 52.3% success rate. King has a 3.8% average return when recommending PLT, and is ranked #2661 out of 3350 analysts.