UPDATE: Oppenheimer Upgrades Angie's List (ANGI) to Outperform; Value vs. Peers

August 29, 2012 7:25 AM EDT
Get Alerts ANGI Hot Sheet
Price: $7.25 -1.23%

Rating Summary:
    4 Buy, 17 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 1 | Down: 2 | New: 3
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(Updated - August 29, 2012 8:53 AM EDT)

Oppenheimer upgraded Angie's List (NASDAQ: ANGI) from Perform to Outperform with a price target of $15.00 (from $17.00).

Analyst, Jason Helfstein, said, "With the stock down 32% since its Aug. 14 lock-up expiration, we are bullish for the following reasons: 1) Our scenario analysis suggests that ANGI can deliver multi-year EBITDA growth, even if consumer marketing slows; 2) lock-up expiration should reduce volatility; and 3) shares are trading at 2x 2013E EV/sales with estimated 2011-2014 sales growth of 50%, a steep discount to its high-growth peers currently trading at an average of 7x."

For an analyst ratings summary and ratings history on Angie's List click here. For more ratings news on Angie's List click here.

Shares of Angie's List closed at $9.03 yesterday.

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