UPDATE: J.P. Morgan Lowers Price Target on QuinStreet to $13

According to J.P. Morgan, QuinStreet (NASDAQ: QNST) price target is lowered to $13.

J.P. Morgan said that QuinStreet reported soft 1QFY12 results as both Education and Financial Services revenue fell short of expectations. “As a result, we have reduced our FY12 and outer year estimates, and we are lowering our price target to $13.”

QuinStreet closed yesterday at $11.10.

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