Oppenheimer Remains Bullish on comScore (SCOR) Following Announced Merger with Rentrak (RENT)

Oppenheimer reiterated an Outperform rating and $68.00 price target on comScore (NASDAQ: SCOR) following announced stock merger with Rentrak (NASDAQ: RENT). Each share of RENT will be converted into 1.15 shares of SCOR. Upon completion, SCOR's shareholders will own 66.5% of the merged entity, while RENT shareholders will own 33.5%.

Analyst Jason Helfstein commented, "After the close, SCOR and RENT announced a stock merger, creating the leading next-generation third-party online measurement company, with a $2.4B valuation. SCOR is paying a 20% premium to its valuation, based on '16E consensus sales estimates. SCOR shares traded up 9% in reaction, with RENT shares up 13%. We view the announced transaction as significantly increasing SCOR’s competitive positioning with respect to digital media analytics and measurement. The combined company will now be able to offer household-level cross-media measurement and attribution, both online and in-store. With consumers increasingly shifting media consumption away from linear television and print media, SCOR will offer digital measurement and audience verification far superior to competitor Nielsen (NLSN). The combined company is poised to deliver 25% PF annual revenue growth."

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

Shares of comScore closed at $41.47 yesterday.

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