Stifel Nicolaus Maintains Hold on Digital River
Stifel Nicolaus is out with its report today on Digital River (NASDAQ: DRIV), maintaining Hold.
In its report, Stifel Nicolaus writes, "We are maintaining our Hold rating on shares of DRIV. DRIV shares currently trade at 14.8x our revised 2012 EPS estimate compared to the peer group at 16.2x, and 17.4x our revised 2012 FCF estimate compared to the peer group median at 10.7x. We would wait to see improved growth from Digital River, particularly growth other than Microsoft related growth, before potentially revisiting our rating on the shares, all else being equal. Our concerns about consumer confidence and spending also make us more cautious on DRIV shares."
At the time of posting, shares of DRIV were trading at $18.97, even with Monday's close.
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