UPDATE: Credit Suisse Initiates Neutral, $20 PT on Bazaarvoice
Credit Suisse initiates its price target on Bazaarvoice (NASDAQ: BV) with a Neutral rating and a price target of $20 per share on strong fundamentals but limited upside.
Credit Suisse notes, "On the Sidelines for Now: While there is much to like about the Bazaarvoice story, its shares have appreciated ~61% since initial pricing, there is limited upside potential to our $20 target price and we would prefer to wait for a better entry point. Riding the Social Marketing Meta Trend: We view BV as one of the vanguards of a fundamental shift in deployment of ad dollars on the Internet to incorporate user-generated content, word of mouth marketing."
BV closed at $19.27 on Tuesday.
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