Vonage's V-Phone - a USB-like device that turns any laptop into a Vonage phone - makes its Canadian debut today in downtown Toronto. Vonage shares, meanwhile, closed at $7.87 yesterday after touching a new low of $7.81 - 54% below the IPO price. It's interesting to see that analyst coverage of Vonage is expanding. UBS Securities recently initiated coverage with a "neutral" rating and a $10 target price, while CitiGroup initiated coverage with a 'hold" rating and an $11 target price. The target prices make you wonder how Vonage ever managed to sell the IPO at $17 a share. Someone did a great job selling investors on the prospects for Vonage and VoIP.
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Mark Evansthe blog - examines the world of telecom and technology from a distinctly Canadian perspective.the person - lives in Toronto, CA with his wife and three children, and works as director of community with PlanetEye Inc. 
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V-Phone Debuts in Canada
by
Mark Evans
on Fri 07 Jul 2006 09:42 AM EDT | Permanent Link
Vonage's V-Phone - a USB-like device that turns any laptop into a Vonage phone - makes its Canadian debut today in downtown Toronto. Vonage shares, meanwhile, closed at $7.87 yesterday after touching a new low of $7.81 - 54% below the IPO price. It's interesting to see that analyst coverage of Vonage is expanding. UBS Securities recently initiated coverage with a "neutral" rating and a $10 target price, while CitiGroup initiated coverage with a 'hold" rating and an $11 target price. The target prices make you wonder how Vonage ever managed to sell the IPO at $17 a share. Someone did a great job selling investors on the prospects for Vonage and VoIP.Comments
Re: V-Phone Debuts in Canada
by
Anonymous
on Sun 09 Jul 2006 10:43 PM EDT | Permanent Link
Can someone explain to me how you can call a stock a hold when your target is $11 and it is trading at less than $8? If it goes to your target then you will get a 40% return which is a big win in my books!
Re: Re: V-Phone Debuts in Canada
it's called eating your cake and having it too. i doubt anyone wants to go out on a limb and call vonage a "buy" give the current sentiment but i suspect some analysts believe there may be a chance for a bounce back.
Re: V-Phone Debuts in Canada
by
Anonymous
on Mon 10 Jul 2006 10:15 PM EDT | Permanent Link
"Someone did a great job selling investors on the prospects for Vonage and VoIP"
yes, and the owners too! Vonage, Vonage, Vonage... Trackbacks
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