Canaccord Genuity Downgrades Bankrate (RATE) to Hold
Tweet Send to a FriendGet Alerts RATE Hot Sheet
Price: $14.32 --0%
Rating Summary:
2 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 15 | New: 19
Rating Summary:
2 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 15 | New: 19
Trade RATE Now!
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, with a 52 week range of $10.01-$25.95.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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, with a 52 week range of $10.01-$25.95.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Bernstein Cuts BlackBerry (BBRY) to Underperform; Notes Weak BB10 Traction
- Gabelli Downgrades Nexstar Broadcasting Group (NXST) to Hold
- Brean Capital Downgrades Tetra Tech (TTEK) to Hold
Create E-mail Alert Related Categories
Analyst PT Change, DowngradesRelated Entities
Canaccord Genuity
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
