Needham & Company Reiterates a 'Buy' on AOL, Inc. (AOL); Why BUY AOL?
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Price: $49.99 --0%
Rating Summary:
1 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on AOL, Inc. (NYSE: AOL), slashes price target from $35 to $20.
Needham analyst says, "Although we believe that Michael Arrington is destroying his own brand as an independent assessor of technologies and companies in favor of being an investor, we disagree that the TechCrunch brand must go down with his ship. Press reports quote Arrington as saying that “I am TechCrunch”. If true, this quote is so dismissive of his hiring skills and team that we hope they become maniacally motivated to prove him wrong."
"We reiterate our rating on AOL because we believe that AOL should be taken private for its asset value. We calculate that AOL is worth $26/share in a liquidation scenario, excluding its upside optionality. In this report, we lower our FY11 EPS estimates to be in line with latest management guidance and we also lower our target price to $20, representing a 38% premium to current trading levels."
For more ratings news on AOL, Inc. click here and for the rating history of AOL, Inc. click here.
Shares of AOL, Inc. closed at $14.50 yesterday.
Needham analyst says, "Although we believe that Michael Arrington is destroying his own brand as an independent assessor of technologies and companies in favor of being an investor, we disagree that the TechCrunch brand must go down with his ship. Press reports quote Arrington as saying that “I am TechCrunch”. If true, this quote is so dismissive of his hiring skills and team that we hope they become maniacally motivated to prove him wrong."
"We reiterate our rating on AOL because we believe that AOL should be taken private for its asset value. We calculate that AOL is worth $26/share in a liquidation scenario, excluding its upside optionality. In this report, we lower our FY11 EPS estimates to be in line with latest management guidance and we also lower our target price to $20, representing a 38% premium to current trading levels."
For more ratings news on AOL, Inc. click here and for the rating history of AOL, Inc. click here.
Shares of AOL, Inc. closed at $14.50 yesterday.
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