Canaccord Genuity Downgrades Bankrate (RATE) to Hold

Canaccord Genuity downgraded Bankrate (NYSE: RATE) from Buy to Hold with a price target of $14.00 (from $16.00).

The firm comments, "We believe Q4 estimates are quite reasonable, but we adopt more conservative 2013 assumptions. While the upside scenario is enticing, we believe tough H1 comps, high execution risk, and the likelihood that any recovery may not occur until mid-2013 warrant a more cautious stance for the next quarter or two."

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 $12.03 yesterday.

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