S&P Equity Research Downgrades NeuStar (NSR) to Hold
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S&P Equity Research downgrades NeuStar (NYSE: NSR) from Buy to Hold.
S&P analyst, J. Yin, says, "NSR posts Q1 loss of $0.06 vs. EPS of $0.23, worse than our estimate of $0.27 EPS due to a $29M goodwill impairment charge. Revenues rose 20% to $117M, $3M above our view. NSR saw solid growth in addressing revenue, Ultra services and Common Short Codes, but lowered its outlook for its mobile messaging business due to delayed rollout by wireless carriers. We also see slower growth in NSR's core business, reflecting a slowdown in the U.S. economy. We are cutting our '08 EPS forecast by $0.44 to $0.90 and our 12-month target price by $5 to $30, based on our lower EPS outlook."
NeuStar, Inc. (NeuStar) provides the communications industry with essential clearinghouse services. [SM]
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