Strong Buy - Price 16.66 on May 7
by Wedbush Morgan

Raising target to 25; was 23. SYN provides tech services to wireless-telecom companies. We expect shares to rally...on solid Q1 results and increased guidance, which surpassed our most optimistic expectations. SYN reported Q1 cash EPS of 37 cents on $115 million revenue...upside was driven primarily from...strength in messaging, mobile-data services, and international expansion. Market cap: $1.1 billion.

Downgraded by Matrix Research from Sell to Strong Sell

Upgraded by Robert W. Baird from Neutral to Outperform
Upgraded by Bear Stearns from Underperform to Peer Perform

From Barron's 4/16/07

"Syniverse provides technology services to wireless-telecommunications companies...These services include technology interoperability, network services, number portability, call processing and enterprise solutions. Lowering price target from $14.50 to $12.50 and 2007 and 2008 estimates, as we see limited evidence supporting a near-term recovery of Syniverse's revenue growth. While management essentially guided for flat growth for 2007, backing out the impact of the [Interactive Technology Holdings] acquisition in June 2006, we estimate an organic revenue decline of 3%. We believe there will be some revenue recovery in 2008, but are lowering our overall long-term growth expectations, which reduces our [discounted cash-flow]-based valuation from 14.50 to 12.50."

I own

Downgraded by Bear Stearns from Peer Perform to Underperform
Downgraded by Avondale Partners from Mkt Outperform to Mkt Perform
Downgraded by Kaufman Bros from Buy to Hold