Friday, February 16, 2007

Soleil Said Vonage (VG) Is An Underweight on the Business, But Overweight On Possible Takeover

Soleil Securities comments on Vonage (NYSE: VG) saying its Equalweight rating on the company is really an Underweight on the business with an Overweight on the potential for a takeout. Also said $3.23 of cash sets a near-term floor. Analyst Gregory H. Lundberg said, "VG trades at an EV/sub of $307, which is approaching a typical subscriber acquisition cost; acquiring VG may be cheaper and faster than building a VoIP business."

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