Needham & Company Maintains a 'Buy' on AOL, Inc. (AOL); None for Starboard

June 15, 2012 9:25 AM EDT
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Price: $49.99 --0%

Rating Summary:
    5 Buy, 20 Hold, 2 Sell

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Today's Overall Ratings:
    Up: 22 | Down: 32 | New: 34
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Needham & Company maintains a 'Buy' on AOL, Inc. (NYSE: AOL) price target of $31.00.

Analyst, Laura Martin, said, "Shareholders appear to have re-elected all of AOL's Board members and none of Starboard's. AOL's share price was down nearly 6% on this news, owing to fears that AOL may not distribute the $10/share from the patent sale now that Starboard's power is muted. Additionally, we expect that a portion of AOL's current share price softness is because Starboard is selling its shares, having lost the proxy contest. We note that Starboard more than doubled their money in AOL, which we would credit as a successful investment. What next for AOL? The market wants to see good execution at Patch coupled with improving financial metrics, as well as continued progress in the subscription and Devil businesses."

For an analyst ratings summary and ratings history on AOL, Inc. click here. For more ratings news on AOL, Inc. click here.

Shares of AOL, Inc. closed at $25.57 yesterday.

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