Oppenheimer Maintains an 'Outperform' on comScore (SCOR); Disappointing Q2, Look for 2013 Rebound

August 3, 2012 1:28 PM EDT Send to a Friend
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Price: $38.31 --0%

Rating Summary:
    6 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Oppenheimer maintains an 'Outperform' on comScore (NASDAQ: SCOR) price target of $20.00 (from $27.00).

Analyst, Jason Helfstein, said, "While SCOR shares are likely to decline on weaker than expected 2Q results and guidance, we see the issue as limited to '12 and expect growth to resume in '13. With the stock trading at 9x our revised '13E EBITDA or lower, we see 30%+ upside potential in the shares to a 12x valuation. ARS TV testing segment collapses (second time since acquisition), with major advertisers shifting to global integrated competitors. SCOR will discontinue service at 9% of revenues. New campaign products driving 22% bookings growth, but revenue recognition tied to campaign launch, vs. historical recognition on straight-line or completion-of-services basis. Lastly, uncertainty at clients is delaying contracts for add-on services such as Mobile & Carrier analytics."

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

Shares of comScore closed at $15.45 yesterday.




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