Deutsche Bank Reports on Nuance Communications (NMS)

Deutsche Bank commented on Nuance Communications (NASDAQ: NMS) in a report released today. In the report, Deutsche Bank was positive on the company.

Deutsche Bank writes, “NUAN delivered a quarter at the high end of the pre-announced range on April 22, printing $322m/$0.32 vs our $331m/$0.31. Good numbers across all three verticals underscored the results. FY11 (Sept) guidance was raised at the low end of the range by $10m/$0.01 and the high end was reiterated at $1.36bn/$1.36. The acquisition of Equitrac strengthens the imaging segment and also provides distribution synergies with enterprise and healthcare. We see continued execution in 2H11 and reiterate Buy, raising our PT by $2 to $26.”

Deutsche Bank has a Buy rating on Nuance Communications and a price target of $26. Shares of the company closed at $21.62 yesterday, down $0.23 from the open.