Syniverse Delivers Good Quarter, Deutsche Bank Ups Price Target (SVR)

Deutsche Bank analysts Tom Ernst and Nandan Amladi reiterated a Buy rating for Syniverse Technologies SVR. The analysts said, "SVR delivered $157.5m/$0.49 vs. our estimate of $148m/$0.42 and Street’s $152.5m/$0.46. Roaming drove much of the upside, growing 11% sequentially, while messaging grew 4% sequentially. Secular growth in smartphones and SMS/MMS, combined with SVR’s strong competitive position should continue to benefit the stock. We therefore reiterate our Buy rating." Deutsche Bank raised its price target to $28 from $25 for Syniverse Technologies. Shares of SVR are currently trading at $22.50.