Kaufman Bros. Downgrades The Knot, Inc. (KNOT); Slightly Decreases Estimates
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Kaufman Bros. downgrades The Knot, Inc. (NASDAQ: KNOT), price target $11.
Kaufman analyst says, "We are slightly decreasing our estimates given the cautious commentary by management during the call, the challenges within the national advertising segment, and the potential revenue risk associated with the renegotiation with Macy's. For 2009, we move from $107 million in revenues to $106 million while maintaining our $16 million EBITDA estimate. For 2010, we move from $113 million in revenue and $19 million in EBITDA to $112 million and $18 million, respectively."
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