Market Overview

UPDATE: Credit Suisse Downgrades OpenTable to Neutral

Credit Suisse lowers its rating on OpenTable (NASDAQ: OPEN) on valuation and raise sits price target to $52 from $49 on revised estimates.

Credit Suisse says, " OPEN shares are up 28% since our initiation and while our long-term share-gain thesis on restaurant adoption of ERB/Connect and ensuing seated diners remains unchanged as exhibited on the 4Q11 results showing 38% seated diner growth in North America, we move to a neutral stance as the stock now trades in-line with our adjusted $52 target. We might look to get more constructive if shares pull back to the low $40-level. ...We are revising our 2012/2013/2014 EPS estimates to $0.90/$1.44/$1.80 (from $0.93/$1.35/$1.68)."

OPEN closed at $51.45 a share on Tuesday.

Posted-In: Credit SuisseAnalyst Color Downgrades Price Target Pre-Market Outlook Analyst Ratings

 

Most Popular

Related Articles (OPEN)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free