• 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.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.