Albert Fried & Company Starts Synacor (SYNC) at Underweight; Several Positives, But Shares Overvalued After Run-up

June 1, 2012 11:16 AM EDT
Get Alerts SYNC Hot Sheet
Price: $3.10 --0%

Rating Summary:
    2 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 28 | Down: 28 | New: 23
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Albert Fried & Company initiates coverage on Synacor (NASDAQ: SYNC) with an Underweight. PT $10.00.

Analyst, Rich Tullo, said, "We like SYNC’s strategic positioning, sticky client base and unique service offering. SYNC has emerged from its IPO as a unique high growth and profitable play on TV everywhere as well as the emergence of MSO’s as next generation Internet Service Providers. However, the recent run up in SYNC shares and the lockout expiration in mid July make SYNC expensive in our view at 18x our 2013E EV/AOCF (EBITDA)."

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

Shares of Synacor closed at $14.70 yesterday.

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