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UPDATE: Citi Downgrades Synacor; Raises PT

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According to a research report published this morning, Citi has downgraded Synacor (NASDAQ: SYNC) from Buy to Neutral, and raised PT from $9.50 to $15.50.

In the report, Citi said, "After trading between $6.97 and $8.29 in April, Synacor's stock is now at $14.50+, or up 75% in May. While earnings on April 24th were good and suggested fundamental growth drivers remain strong, the exceptional performance in May appears to be driven by positive commentary from two retail-focused investor services, the National Inflation Association and Jonathan Ledbed's newsletter. We aren't aware of any fundamental changes to the story that would drive such strong outperformance."

Synacor closed yesterday at $14.15.

Latest Ratings for SYNC

DateFirmActionFromTo
Aug 2014Albert Fried & Co.DowngradesOverweightMarket Perform
May 2014Bank of AmericaMaintainsUnderperform
Mar 2014Bank of AmericaMaintainsUnderperform

View More Analyst Ratings for SYNC
View the Latest Analyst Ratings

Posted-In: CitiAnalyst Color Downgrades Price Target Analyst Ratings

 

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