PGI’s Business Trends Ex-Currency To Remain Relatively Stable

Analysts at Morgan Joseph upgrade Premiere Global Services Inc (NYSE: PGI) from "market perform" to "outperform," while lowering their estimates for the company.

Morgan Joseph mentions, “we expect that PGI's stable, recurring, and cash flow generating business model will become increasingly compelling to investors.”

“PGI shares were down 20% in June vs. 5% for the S&P 500…. Given the strong earnings recovery we expect in 2011 as excess marketing spending related to its iMeet platform subsides, we find this valuation very compelling,” the analysts say.

Morgan Joseph has lowered its non-GAAP EPS estimates for 2010 and 2011 from $0.72 to $0.68 and from $0.88 to $0.78, respectively, due to “currency changes since April.”

More Analyst Ratings here