Deutsche Bank Upgrades Rentrak (RENT) to Buy; Momentum Improved

Deutsche Bank upgraded Rentrak (NASDAQ: RENT) from Hold to Buy, price target raised from $15 to $20.

Deutsche analyst says, "The disappointingly slow progress in linear TV measurement has been one of the key reasons for our Hold rating but momentum has turned for the better. Rentrak just wrapped a quarter in which it signed up 51 new TV stations from 8 station groups, nearly 4x the trend rate. While further deterioration in Home Entertainment is still a risk, the earnings power (EBITDA/EPS up >60% p.a. over the next two years) is quite powerful and should justify a valuation of 24x calendar 2012 EBITDA (16x calendar 2013), which supports our new price target."

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

Shares of Rentrak closed at $16.38 yesterday.

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