Baird Maintains a 'Neutral' on Digital River (DRIV); Lowering PT, but Potential Value Idea in 2012
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Price: $36.10 +0.95%
Rating Summary:
2 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Baird maintains a 'Neutral' on Digital River (NASDAQ: DRIV) price target lowered from $24 to $19.
Baird analyst says, "We are lowering our estimates and price target ahead of Q4 earnings as we believe growth may not accelerate in 2012, and management is likely to set conservative expectations given ongoing operational as well as macro uncertainties. While our cautious view from last year has played out, we believe the stock may become an interesting value idea; however, in the near term, shares are likely to remain range bound, and we therefore maintain our rating." (FY12 lowered from $1.25 to $1.20)
"Potential catalysts in the year ahead: In 2H 2012 we expect Microsoft (Nasdaq: MSFT) to launch Office 15, which should accelerate growth of the Microsoft e-commerce store. In addition, we believe Digital River continues to seek new e-commerce partners, while Microsoft could also expand its e-commerce relationship, most likely internationally."
For an analyst ratings summary and ratings history on Digital River click here. For more ratings news on Digital River click here.
Shares of Digital River closed at $14.71 yesterday.
Baird analyst says, "We are lowering our estimates and price target ahead of Q4 earnings as we believe growth may not accelerate in 2012, and management is likely to set conservative expectations given ongoing operational as well as macro uncertainties. While our cautious view from last year has played out, we believe the stock may become an interesting value idea; however, in the near term, shares are likely to remain range bound, and we therefore maintain our rating." (FY12 lowered from $1.25 to $1.20)
"Potential catalysts in the year ahead: In 2H 2012 we expect Microsoft (Nasdaq: MSFT) to launch Office 15, which should accelerate growth of the Microsoft e-commerce store. In addition, we believe Digital River continues to seek new e-commerce partners, while Microsoft could also expand its e-commerce relationship, most likely internationally."
For an analyst ratings summary and ratings history on Digital River click here. For more ratings news on Digital River click here.
Shares of Digital River closed at $14.71 yesterday.
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