Canaccord Adams Upgrades Answers Corp (ANSW) to Buy - Details Inside
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Canaccord Adams upgrades Answers Corporation (Nasdaq: ANSW) from Hold to Buy. Price target increased from $10 to $15.
Canaccord analyst says, "We believe that Answers is aggressively ramping its international efforts, directly translating existing content into an initial set of five foreign languages in an effort to capture higher traffic growth opportunities abroad. This should lead to meaningful contributions starting in the H2/10, in our view, and could begin having positive implication as early as Q2/10. While Quantcast showed noticeable lift in traffic levels for Q3/09, much of this may be seasonal as RPM pricing remains flat. We believe that the company’s ongoing commitment to crowdsourcing as a means to build its UGC community is a key factor in its rapid monetization capability."
To see more analyst ratings on ANSW Click Here.
Answers Corporation, together with its subsidiary, GuruNet Israel Ltd., operates as an online answer engine.
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