Benzinga | Aug 11, 2020 03:06PM EDT

Why Avaya's Stock Is Trading Higher Today

Avaya (NYSE:AVYA) shares are trading higher Tuesday on continued momentum after the company reported third-quarter earnings results yesterday. Following earnings, Morgan Stanley maintained an Overweight rating and raised its price target from $17 to $18.

Avaya provides digital communications products, solutions, and services for businesses. The company has two operating segments namely Products and Solutions, and Services. The company generates maximum revenue from the Services segment. Geographically, it derives a majority of revenue from the U.S.

Avaya shares were trading up 6.94% at $16.19 at time of publication on Tuesday. The stock has a 52-week high of $16.85 and a 52-week low of $6.13.