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Technology Stocks : Nuance Communications, Inc.

NUAN 54.84

0.0%

Aug 11 5:00 PM EST

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From: SGJ	10/11/2007 9:25:07 AM
	of 834

Citi Downgrades Nuance Communications, but It's Still a 'Great Story' NEW YORK (AP) -- A Citi analyst downgraded Nuance Communications Inc., which makes speech and imaging products, Thursday because the share price is too high. Analyst Brent Thill cut Nuance to "Hold" from "Buy" as the company approaches his $22 price target after gaining 92 percent year-to-date. Thill said the company's performance reflects strong demand for its products, and he expects positive fourth-quarter results. "Nuance remains a great story with a dominant competitive position in speech applications and double-digit organic growth," Thill said in a note to clients. The stock price could continue to rise on speculation Microsoft or Cisco might buy the company for its speech technology, Thill said. Shares of Nuance fell 49 cents, or 2.2 percent, to $21.48 in premarket trading after closing at $21.97 on Wednesday.

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