Canaccord Genuity Maintains a 'Hold' on Local.com (LOCM); In-line Q1/11; More Challenges Ahead
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Price: $0.00 --0%
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 47
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 47
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Canaccord Genuity maintains a 'Hold' on Local.com (NASDAQ: LOCM), PT cut to $3.25 from $4.60.
Canaccord analyst says, "Though top-line growth will likely accelerate in the back half of the year, increased costs to grow the business will weigh on the bottom line into 2012. We continue to believe the Local space remains positive from a macro perspective, but see many company-specific headwinds for LOCM."
"Despite management commentary, we are still concerned about recent trends at two of LOCM’s largest advertisers, as well as algorithm changes at Google (Nasdaq: GOOG)."
For more ratings news on Local.com click here and for the rating history of Local.com click here.
Shares of Local.com closed at $4.46 yesterday.
Canaccord analyst says, "Though top-line growth will likely accelerate in the back half of the year, increased costs to grow the business will weigh on the bottom line into 2012. We continue to believe the Local space remains positive from a macro perspective, but see many company-specific headwinds for LOCM."
"Despite management commentary, we are still concerned about recent trends at two of LOCM’s largest advertisers, as well as algorithm changes at Google (Nasdaq: GOOG)."
For more ratings news on Local.com click here and for the rating history of Local.com click here.
Shares of Local.com closed at $4.46 yesterday.
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