Oppenheimer Raises Price Target on OpenTable (OPEN); Positive Meetings with CFO
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Price: $67.73 +0.37%
Rating Summary:
8 Buy, 13 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
8 Buy, 13 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade OPEN Now!
Oppenheimer maintains an 'Outperform' on OpenTable (NASDAQ: OPEN) price target of $49.00 (from $46.00).
Analyst, Jason Helfstein, said, "Following several meetings with OPEN's CFO, Duncan Robertson, we see numerous catalysts over the next 6-12 months: 1) high likelihood of an acceleration in UK reservations, driven by a real-time reservation system; 2) increased focus on personalized user experiences and reviews should drive US conversion rates; and 3) our view that investor expectations have been reset, creating a potential "beat-and-raise" situation...We view the stock as highly attractive at current levels, trading at a 2013E 11x EV/EBITDA multiple compared to AWAY at 18x."
For an analyst ratings summary and ratings history on OpenTable click here. For more ratings news on OpenTable click here.
Shares of OpenTable closed at $43.41 yesterday, with a 52 week range of $31.54-$65.51.
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Analyst, Jason Helfstein, said, "Following several meetings with OPEN's CFO, Duncan Robertson, we see numerous catalysts over the next 6-12 months: 1) high likelihood of an acceleration in UK reservations, driven by a real-time reservation system; 2) increased focus on personalized user experiences and reviews should drive US conversion rates; and 3) our view that investor expectations have been reset, creating a potential "beat-and-raise" situation...We view the stock as highly attractive at current levels, trading at a 2013E 11x EV/EBITDA multiple compared to AWAY at 18x."
For an analyst ratings summary and ratings history on OpenTable click here. For more ratings news on OpenTable click here.
Shares of OpenTable closed at $43.41 yesterday, with a 52 week range of $31.54-$65.51.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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