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Jefferies Downgrades Tremor Video (TRMR) to Hold after Weak Q3, Outlook

November 8, 2013 7:04 AM EST Send to a Friend
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Price: $4.51 --0%

Rating Summary:
    1 Buy, 3 Hold, 0 Sell

Rating Trend: Down Down

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    Up: 0 | Down: 0 | New: 0
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Jefferies downgraded Tremor Video (NYSE: TRMR) from Buy to Hold with a price target of $8.00 (from $13.00)following weak Q3 results and outlook.

"Importantly, the company pulled down its FY revenue outlook by 7%, and is now expecting an adj. EBITDA loss," Jefferies US Interactive Entertainment Team said. "We are downgrading to a Hold, and lowering our PT to $8, as our thesis on TRMR's competitive positioning has changed."

The firm cut FY 2013 EPS from ($0.41) to ($0.49) and FY 2014 EPS from ($0.05) to ($0.17).

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

Shares of Tremor Video closed at $9.26 yesterday.




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