Synchronoss price target raised to $40 from $35 at Ladenburg

Ladenburg raised the firm’s price target on Synchronoss to $40 from $35 and keeps a Buy rating on the shares following the “solid” Q2 report. With the company now solely focused on its “industry-leading,” cloud-centric subscriber-based data storage and backup offerings, its future growth will come solely from the addition of new accounts and new subscribers, the analyst tells investors in a research note.