Needham & Company Reiterates a 'Buy' on ReachLocal (RLOC); Attractive At Current Levels

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Needham & Company reiterates a 'Buy' on ReachLocal (NASDAQ: RLOC) price target of $12.00.

Analyst, Kerry Rice, said, "We believe ReachLocal represents a compelling small cap investment opportunity. First, we believe opportunities remain in the North American market despite slower growth expectations. Second, we expect international expansion to be the primary growth engine in 2012. Third, we believe new product launches should layer on incremental revenue growth in 2H12 and 2013. Finally, valuation is attractive at current levels, in our opinion."

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

Shares of ReachLocal closed at $7.70 yesterday, with a 52 week range of $6.05-$26.00.

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