UPDATE: Piper Jaffray Reiterates Neutral on Nuance Communications, Reduces PT to $19

Piper Jaffray reiterated its Neutral rating on Nuance Communications NUAN. At the same time, the rating agency reduced its price target on the company's stock from $21 to $19. On Tuesday, NUAN added 7.44% to its value to end the day at $16.75. Its shares continued to climb in today's pre-market trading, rising 4.48% to stand around $17.50.