Barclays Maintains an 'Underweight' on ReachLocal (RLOC); Challenging Macro Weighs on Guidance

Barclays maintains an 'Underweight' on ReachLocal (NASDAQ: RLOC) price target lowered $2 to $14.00.

Barclays analyst says, "3Q11 Revenues Below Guidance: ReachLocal reported 3Q11 revenues that were below management's expectations but in line with our already below-consensus forecasts, driven largely by an increasingly challenging macroeconomic climate."

"Recommendation: 3Q11 results and guidance supported the cautious view we
espoused in our 9/15/11 initiation report. That said, with the stock down 28% over
the past month and a half and down >47% YTD, and trading near our downside case in after-market trading, the stock could be nearing trough levels."

For more ratings news on ReachLocal click here and for the rating history of ReachLocal click here.

Shares of ReachLocal closed at $10.37 yesterday.

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