Perion gains as Oppenheimer assumes coverage with 'outperform'

Perion Network

30/09/2020 17:29

** U.S.-listed shares of Israeli tech co  PERI.O  rise ~9%
to $6.92; Set for best session in more than two months
    ** Oppenheimer starts coverage of the stock with
"outperform" rating and PT of $9
    ** Brokerage expects organic revenue to decline 13% in FY20
due to COVID-19 pandemic, but sees an increase of 8% FY21
onwards
    ** With acquisitions, PERI has created capabilities to
cross-sell its products cost effectively - Oppenheimer; Expects
co to renew its contract with Microsoft Corp  MSFT.O  which ends
in Dec 2020 
    ** Stock has gained ~11% so far this year

 (Reporting by Supriya Rangarajan in Bengaluru)
 ((SupriyaR1@thomsonreuters.com; +1 646 223 8780;))