UPDATE: Canaccord Genuity Starts Bankrate (RATE) at Buy; Risk/Reward Attractive

June 26, 2012 7:16 AM EDT Send to a Friend
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Price: $11.93 +3.47%

Rating Summary:
    3 Buy, 3 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 20 | Down: 42 | New: 52
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(Updated - June 26, 2012 8:48 AM EDT)

Canaccord Genuity initiates coverage on Bankrate (NYSE: RATE) with a Buy. PT $25.00.

Analyst, Michael Graham, said, "We believe Bankrate occupies a defensible position as the most popular destination for consumer financial information on the Web. We believe management is early in building a platform from a disparate group of sites, and we see operating levers management can pull to improve the business model. Q1 was disappointing, and Q2 may be tough as well, but we think the risk/reward for H2/2012 and beyond is attractive."

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

Shares of Bankrate closed at $17.44 yesterday.


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