InterCloud Systems (NASDAQ:ICLD) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Tuesday, Analyst Ratings News reports. The firm currently has a $15.00 price objective on the stock. Zacks‘ price target indicates a potential upside of 51.67% from the company’s current price.
Zacks‘ analyst wrote, “InterCloud Systems, Inc. is a global single source provider of value added services for both corporate enterprises and service providers. The firm is made up of six operating subsidiaries that have molded the firm into a significant player in cloud and managed services as well as telecom infrastructure. In the first full year of operation the firm is poised to record revenues north of $60 million. The growth of the cloud and the outsourcing of services by telecom providers will act as a tail wind for the firm. Another cloud services subsidiary (IPC) was recently signed that will add approximately $25 million to the top-line. While we like growth story, investors should be aware that some risks exist with regard to dilution as well as the execution risk of bringing all the firms together under one roof.”