Deutsche Bank Reiterates Buy on Nuance Communications

Deutsche Bank is out with its report today on Nuance Communications NUAN, reiterating Buy. In its report, Deutsche Bank writes, "Nuance delivered non-GAAP revenues of $345.1m and EPS of $0.35 vs. our estimate of $337m/$0.34 and consensus of $337.8m/$0.34. The Mobile & Consumer segment was up 29% y/y and Healthcare up 22%; Enterprise continued to lag. Guidance was raised by about $25m, much of it from the three acquisitions made during the quarter, still leaving room for a beat in the seasonally strong 4Q. We reiterate our Buy rating and $26 PT on consistent execution." Shares of NUAN closed Tuesday at $16.75, up 7.44% from Monday's close.