Ascendiant Capital Starts Local.com (LOCM) at Buy; Positive Execution with Solid Growth Prospects

June 11, 2012 10:02 AM EDT
Get Alerts LOCM Hot Sheet
Price: $0.09 --0%

Rating Summary:
    2 Buy, 1 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 13 | New: 20
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Ascendiant Capital initiates coverage on Local.com (NASDAQ: LOCM) with a Buy. PT $3.50.

Analyst, Edward Woo, said, "Solid long term growth prospects and reasonable valuation make stock attractive. We recommend the stock and believe its valuation will increase as it benefits from the large growth in online advertising."

Woo did note his concern on high competition from Google (Nasdaq: GOOG) and other major search engines, but overall concerns are not as noteworthy as the company's growth prospects and current valuation.

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

Shares of Local.com closed at $2.23 yesterday.


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