• Roth MKM on Monday upgraded Synchronoss Technologies (NASDAQ:SNCR) to 'buy' with $13 price target, which implies an upside of 36.55% from current levels.
• Synchronoss Technologies (SNCR) shares up +7.77% to $10.26 premarket.
• Streamlined operations and elevated AEBITDA levels in 2Q24/3Q24 appear to offer a narrow, but potentially growing path to begin accruing equity shareholder value after paying its burdensome debt interest - brokerage
• Roth MKM further states that if the company can continue to reallocate internal resources toward more demand-generating activities, "growth could slowly grind higher."
• Winning Softbank recently was a plus, but SNCR remains dependent upon partners to drive its own growth, an outcome it has essentially no control over, the brokerage added.
• However, with cloud customers competing with storage and backup services provided by dominant platform vendors (Apple/Android), it still assumes long-term penetration rates will prove modest.
• Synchronoss Technologies (SNCR) stock has gained 53% YTD.

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