Analysts say Bankrate (RATE) Temporarily Impaired; Not Permanently Broken

October 17, 2012 10:47 AM EDT
Get Alerts RATE Hot Sheet
Price: $11.10 -3.9%

Rating Summary:
    4 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Canaccord Genuity maintained a Buy on Bankrate (NYSE: RATE) but slashed its price target to $16.00 (from $24.00).

"After a significant revenue shortfall in Q3, we conclude that Bankrate is more likely to be temporarily impaired than permanently broken," said analyst Michael Graham.

At its current price, Graham believes the risk/reward profile for Bankrate is favorable, and he is predicting upside from current levels as Bankrate’s business stabilizes.

For an analyst ratings summary and ratings history on Bankrate click here. For more ratings news on Bankrate click here.

Shares of Bankrate closed at $11.26 yesterday.

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