Yandex (NASDAQ: YNDX), Accenture Plc (NYSE: ACN), ReachLocal Inc. (NASDAQ: RLOC) an Kior (NASDAQ: KIOR) getting new coverage.
BMO Capital Markets initiated coverage on Accenture Plc (ACN). They placed a “Market Perform” rating and a price target of $70.00 on the company.
Citigroup (NYSE:C) initiated coverage on KiOR Inc. (KIOR). They placed a “Buy” rating and a price target of $21.00 on the company.
Needham & Company initiated coverage on ReachLocal Inc. (RLOC). They placed a “Buy” rating and a price target of $25.00 on the company.
JPMorgan Chase & Co. (NYSE:JPM) initiated coverage on Yandex (YNDX). They placed an “Overweight” rating on the company.
Showing posts with label ReachLocal. Show all posts
Showing posts with label ReachLocal. Show all posts
Thursday, August 4, 2011
Tuesday, December 7, 2010
ReachLocal (NASDAQ:RLOC) Strong Online Local Advertiser
After the attempt by Amazon.com (Nasdaq:AMZN) to acquire Groupon last week, it brought to the forefront the local advertising sector, and among the top candidates in the segment is ReachLocal (NASDAQ:RLOC), according to Needham & Company.
Needham said, "The local online advertising sector has dominated the headlines over the past week, w/ Amazon.com’s $175MM investment in LivingSocial and (unsubstantiated) speculation that GroupOn could be acquired by Google (NASDAQ:GOOG) for more than $5BN. What this news helps to highlight, in our view, is the rapid growth and attractive outlook for the local online ad sector. ReachLocal is one of the only pure-play public investment vehicles in this space, and has benefited from many of these same trends (e.g., revenue is forecasted to grow 43% in 2010)."
Needham reiterates their "Buy" rating on ReachLocal, which closed Monday at $19.48, remaining level from the prior trading session. Needham raised their price target on them from $18 to $22.
Needham said, "The local online advertising sector has dominated the headlines over the past week, w/ Amazon.com’s $175MM investment in LivingSocial and (unsubstantiated) speculation that GroupOn could be acquired by Google (NASDAQ:GOOG) for more than $5BN. What this news helps to highlight, in our view, is the rapid growth and attractive outlook for the local online ad sector. ReachLocal is one of the only pure-play public investment vehicles in this space, and has benefited from many of these same trends (e.g., revenue is forecasted to grow 43% in 2010)."
Needham reiterates their "Buy" rating on ReachLocal, which closed Monday at $19.48, remaining level from the prior trading session. Needham raised their price target on them from $18 to $22.
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