Synchronoss rallies after analyst day impresses

Wells Fargo has hiked its Synchronoss (SNCR +3.6%) valuation range to $46-$48 from $38-$41, arguing yesterday's analyst day left it more optimistic about the company's cloud services business (offers white-label cloud solutions for carriers).

FBR thinks "the lion's share" of Synchronoss' 2014 revenue growth will come from "higher-margin cloud offerings." It's also upbeat about the company's ability to grow its subscriber activations, and about demand from a new Indian client (thus far unnamed).

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