UPDATE: Albert Fried and Company Keeps Rentrak at Market Perform, Lowers PT to $18 on Weak Forecast
Albert Fried and Company reiterates its Market Perform rating on Rentrak (NASDAQ: RENT) but lowers its price target from $23 to $18.
Albert Fried and Company notes, "On Thursday June June 7, 2012 we expect RENT to report weak results from its Home segment as the Company's AMI segment benefits from new TTV and Cable network deals. Thus we reduce our estimates for F4Q12 ls. E ahead of the results report as RENT derived about 55% of its revenue from the Home segment in F3Q12A."
RENT closed at $16.09 on Monday.
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