Wedbush Securities Remains Positive On J2 Global Following Management Meetings

Courtesy of Benzinga.

In a report published Thursday, Wedbush Securities analyst Shyam Patil reiterated an Outperform rating and $75.00 price target on J2 Global Inc. (NASDAQ: JCOM).

In the report, Wedbush Securities noted, “Recall that j2 is attempting to acquire Carbonite and has entered into a due diligence process with the company. Carbonite is still evaluating its options, which include selling or remaining independent. j2 currently owns slightly less than 10% of the stock. We did not receive any incremental color on the process, but it does sound like a decision could be made by the end of April. As we have stated before, we believe this transaction would be highly accretive for j2 and likely the best outcome for Carbonite. We would note that while j2’s cloud backup revenue is about half the size of Carbonite’s, its margins are 4x higher.”

J2 Global closed on Wednesday at $66.65.

Posted-In: Shyam Patil Wedbush SecuritiesAnalyst Color Reiteration Analyst Ratings