Needham & Company Maintains a 'Buy' on AOL, Inc. (AOL); Adjusting Estimates in Q2 Preview

July 5, 2012 7:49 AM EDT
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Needham & Company maintains a 'Buy' on AOL, Inc. (NYSE: AOL) price target of $34.00 (from $31.00).

Analyst, Laura Martin, said, "We are maintaining our revenue estimates for both 2Q12 and FY12. However, we are lowering our expense estimates as we now expect AOL to maintain costs in line with 1Q12 levels. As a result, we raise our Operating Income estimate to $17mm (up from our previous estimate of $9mm), Operating EPS of $0.27 (up 54% from our previous estimate of $0.17), and Reported EPS of $0.11 (up from our previous estimate of $0.01). We also reduce our asset Impairment estimate in 2Q12 to $0. Together, these revisions result in an OIBDA estimate of $76mm (up 1% from our previous estimate)." (FY12 EPS raised from $1.08 to $1.20)

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 $28.71 yesterday.

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