Barrington Research Upgrades InnerWorkings (INWK) to Outperform

Barrington Research upgraded InnerWorkings (NASDAQ: INWK) from Market Perform to Outperform with a price target of $9.50.

Analyst Kevin Steinke said, "We view shares of InnerWorkings as attractive following an 11% pullback in the stock on the day after the company reported solid third quarter results."

"The company seems to have overcome the issues that led to poor 2013 results, and we are encouraged by management’s focus on organic growth, which should drive increasing returns on capital. While near‐term headwinds bear monitoring, we believe the company is largely back on track with its long-term business model of 10%‐plus annual organic revenue growth and 50‐100 bps of adjusted EBITDA margin expansion each year. Our new 12‐month price target of $9.50 (20% upside from the most recent close) assumes the company continues along this long-term growth track. As a result, we are increasing our investment rating on InnerWorkings to OUTPERFORM from MARKET PERFORM," he added.

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

Shares of InnerWorkings closed at $7.91 yesterday.

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