Deutsche Bank Has Hold On Rentrak

Deutsche Bank is out with a research report on Rentrak (NASDAQ: RENT) and it has a Hold rating and a $15 price target on shares.

In a note to clients, Deutsche Bank writes, "Despite a confident presentation by management, our thesis on Rentrak remains unchanged: either adoption and/or pricing for TV needs to pick up, or the fade rate for Home Entertainment needs to slow down. Absent either happening, we do not see enough upside to justify a Buy recommendation. At 15x EBITDA and 28x PE on a calendar 2012 basis (on our lowered estimates), the market is already pricing in much of the promise of Rentrak's emerging information services businesses."

Shares of RENT gained $1.11 yesterday to close at $14.09.