RADVision "hold," target price reduced

05/05/08 - Wedbush Morgan Securities

NEW YORK, May 5 (newratings.com) - Analysts at Wedbush Morgan maintain their "hold" rating on RADVision Ltd (RVSN), while reducing their estimates for the company. The 12-months target price has been reduced from $10 to $9.

In a research note published on May 2, the analysts mention that the company has posted its 1Q results in-line with expectations. The risk profile of RADVision has risen, after it announced the departure of its CFO, Tsipi Kagan, with effect from July 2008, the analysts say. The uncertain macro environment is expected to present challenges to the company in achieving operating profits by end-2008, Wedbush Morgan adds. The EPS estimates for FY08 and FY09 have been reduced from -$0.21 to -$0.24 and from $0.13 to $0.05, respectively.