Canaccord Genuity Maintains a 'Buy' Velti (VELT); Strong Q3/11 Results Should Help Eliminate Valuation Discount

Canaccord Genuity maintains a 'Buy' Velti (NASDAQ: VELT) price target of $18.00.

Canaccord analyst, Jeff Rath, said, "We maintain our rating and price target following VELT’s Q3/11 results. Velti remains well positioned in a very strong macro, in our opinion, and we believe that both macro-economic and company-specific concerns have contributed to an oversold stock, creating a very attractive entry point to build positions."

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

Shares of Velti closed at $8.75 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
• Rockwell Automation (ROK) PT Lowered to $490 at DA Davidson
• DA Davidson Starts Comfort Systems USA (FIX) at Buy