Cerence CEO Has Vision And Connections To Turn Company’s Voice Assistant From ‘Want-To-Have’ To ‘Need-To-Have’: Analyst Upgrades Stock
0
0
Cerence Inc. (NASDAQ:CRNC) shares surged on Wednesday after Needham analyst Nick Doyle upgraded the stock from Hold to Buy with a price target of $16.
The analyst is bullish on the stock as he expects LLM-based voice assistants to drive higher price per unit (PPU), aligning with automakers’ push for cost efficiency while preserving premium branding.
The analyst writes that strong management, prudent debt actions, improved cash flow assumptions from deferred revenue, rising PPU confidence, a normalized fixed contract balance by December 2026, and conservative near-term operating expense estimates provide confidence in the stock.
The analyst is confident that new CEO Brian Krzanich, with his extensive …
Full story available on Benzinga.com
Visited 1 times, 1 visit(s) today