Major Catalysts For j2 Global Likely To Be M&A

Courtesy of Benzinga.

In a report published Friday, Wedbush Securities analyst Shyam Patil reiterated an Outperform rating on j2 Global (NASDAQ: JCOM), and raised the price target from $62.00 to $75.00.

In the report, Wedbush Securities noted, “j2 reported strong 4Q upside with both cloud and media outperforming and provided guidance ahead of expectations despite a meaningful headwind from FX. The company continues to execute on its strategy and successfully (and impressively) deployed roughly $250 million in capital in 2014 despite not closing any large transactions during the year.”

The report continued, “We continue to believe the major catalysts for the stock will be M&A (especially mid-to-large size deals) and realization of synergies. We are reiterating our OUTPERFORM rating and raising our target to $75 (from $62).”

j2 Global closed on Thursday at $59.54.

Posted-In: Shyam Patil Wedbush SecuritiesAnalyst Color Price Target Analyst Ratings