Northland Securities analyst Michael Latimore maintained a Buy rating on Avaya Holdings Corp (AVYA) today and set a price target of $21. The company’s shares closed yesterday at $15.37.
Latimore wrote:
“We would view that as a logical and credible option to afford the company more time to establish a comprehensive cloud platform given the expensive Spoken acquisition did not accomplish that. AVYA reported a light March quarter and announced it hired a firm to do a strategic review. Lowering FY19 EBITDA to $701 mil from $763 mil.”
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 15.0% and a 57.5% success rate. Latimore covers the Technology sector, focusing on stocks such as Super League Gaming Inc, The Meet Group Inc, and Brightcove Inc.
Currently, the analyst consensus on Avaya Holdings Corp is a Strong Buy with an average price target of $23.13.
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Avaya Holdings Corp’s market cap is currently $1.7B and has a P/E ratio of 30.42. The company has a Price to Book ratio of 0.80.
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Avaya Holdings Corp. is a global business communications company, which engages in the provision of business collaboration and communication solutions. It operates through the Global Communications Solutions (GCS) and Avaya Global Services (AGS) segments. The GCS segment develops, markets, and sells contact center and unified communications products.
