Zacks Investment Research upgraded shares of Polycom Inc. (PLCM) from NEUTRAL to OUTPERFORM on February 13, 2014, with a target price of $15.00.
Polycom reported improved financial results for the fourth quarter of fiscal 2013 with both the top and the bottom line beating the Zacks Consensus Estimate. The company continues to show strong signs of improvements as its Unified Communications Personal Devices segment (62% of total revenue) reported solid global growth. Moreover, the company's cost-control policy by in fiscal 2014 will improve margins while moving ahead. Polycom is currently undergoing a transition from a hardware-centric to a cloud and software-centric business model. It has also made several product enhancements for its popular RealPresence platform, which we believe will act as tailwinds for the company going forward. Based on such positives, we upgrade our recommendation to Outperform from Neutral.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on Polycom Inc. (PLCM),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment