Wedbush Starts Blucora (BCOR) at Outperform
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Price: $27.19 --0%
Rating Summary:
6 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
6 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Wedbush initiated coverage on Blucora Inc. (NASDAQ: BCOR) with an Outperform rating with a price target of $23.00. Analyst Gil Luria thinks the company's digital tax franchise is underappreciated.
"We believe that at the current share price, the implied valuation for Search is only 2x EBITDA, far less than the lowest comparable at 6x, a gap we expect to diminish upon renewal of the Google (Nasdaq: GOOG) contract," said analyst Luria. "We value BCOR's net operating losses between $120-160 million, a value which could be further enhanced by an upcoming acquisition."
For an analyst ratings summary and ratings history on Blucora Inc. (NASDAQ: BCOR) click here. For more ratings news on Blucora Inc. click here.
Shares of Blucora Inc. closed at $18.54 yesterday.
"We believe that at the current share price, the implied valuation for Search is only 2x EBITDA, far less than the lowest comparable at 6x, a gap we expect to diminish upon renewal of the Google (Nasdaq: GOOG) contract," said analyst Luria. "We value BCOR's net operating losses between $120-160 million, a value which could be further enhanced by an upcoming acquisition."
For an analyst ratings summary and ratings history on Blucora Inc. (NASDAQ: BCOR) click here. For more ratings news on Blucora Inc. click here.
Shares of Blucora Inc. closed at $18.54 yesterday.
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