Susquehanna Downgrades Marchex (MCHX) to Neutral
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Susquehanna downgrades Marchex, Inc. (Nasdaq: MCHX) from Positive to Neutral, citing valuation after recent share gains.
The firm said, "We are reducing our rating on MCHX shares due to the strong gains seen over the last three months. At current levels, MCHX has exceeded our 12-month price target. While we maintain our favorable long-term growth thesis, we believe this supports the current valuation multiple but not one significantly higher."
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