Albert Fried & Company maintains a 'Market Perform' on Blucora (BCOR); Raises PT On Distribution Partners Growth Acceleration
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Price: $21.59 -0.87%
Rating Summary:
6 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Albert Fried & Company maintains a 'Market Perform' on Blucora Inc. (NASDAQ: BCOR) price target of $17.00 (from $14.00).
Analyst, Rich Tullo, said, "We think BCOR shares are a good hold as we think new distribution partners added over the last 6 to 9 months now comprise more than 50% of BCOR revenue. We expect BCOR to derive roughly 84% of the Company’s revenue from its core Internet Search franchises in 2012E and roughly 16% of its revenue from its tax preparation segment. Owing to increased demand for Mobile and Browser based Internet Apps we think the population of potential Internet distribution partners for BCOR is expanding as start up Internet businesses seek to monetize web pages and Apps which are developed for their own enterprises and for client sites."
Lower FY12 EPS estimate from $1.00 to $0.77 (higher TAX Act operating expense), raise revenue outlook from $364M to $406M.
For an analyst ratings summary and ratings history on Blucora Inc. click here. For more ratings news on Blucora Inc. click here.
Shares of Blucora Inc. closed at $12.75 yesterday.
Analyst, Rich Tullo, said, "We think BCOR shares are a good hold as we think new distribution partners added over the last 6 to 9 months now comprise more than 50% of BCOR revenue. We expect BCOR to derive roughly 84% of the Company’s revenue from its core Internet Search franchises in 2012E and roughly 16% of its revenue from its tax preparation segment. Owing to increased demand for Mobile and Browser based Internet Apps we think the population of potential Internet distribution partners for BCOR is expanding as start up Internet businesses seek to monetize web pages and Apps which are developed for their own enterprises and for client sites."
Lower FY12 EPS estimate from $1.00 to $0.77 (higher TAX Act operating expense), raise revenue outlook from $364M to $406M.
For an analyst ratings summary and ratings history on Blucora Inc. click here. For more ratings news on Blucora Inc. click here.
Shares of Blucora Inc. closed at $12.75 yesterday.
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