Needham & Company Upgrades Rocket Fuel (FUEL) to Strong Buy

December 19, 2013 6:49 AM EST
Get Alerts FUEL Hot Sheet
Price: $2.10 --0%

Rating Summary:
    2 Buy, 10 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 12 | New: 44
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Needham & Company upgraded Rocket Fuel (NASDAQ: FUEL) from Buy to Strong Buy with a price target of $75, citing favorable risk/reward and increased conviction.

"Rocket Fuel's share price has declined ~30% from their high as a result of the adtech sector's underperformance, as well as concerns related to the future of cookies and an industry shift toward a self-service license model," analyst Kerry Rice notes. "We view these concerns as overblown. We believe the company has enough 'gun powder' to outperform the sector in the near to medium term, while enhancing its long-term competitive position through development of new products (a SaaS-like offering). Moreover, the positive commentary from our recent industry checks strengthen our conviction that Rocket Fuel should outperform expectations in 2014."

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

Shares of Rocket Fuel closed at $50.05 yesterday.

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