UPDATE: Albert Fried & Company Downgrades Rentrak to Underweight on DVD Rental Headwinds
Albert Fried & Company reduces its rating on Rentrak (NASDAQ: RENT) from Market Perform to Underweight and reduces its price target from $18 to $13.
Albert Fried & Company comments, "While RENT''s ''s VOD and TV Everywhere measurement has great potential in our view, RENT's DVD business is in a secular decline and we now expect expect Home margins to contract to 27% in FY2013E from 34% in FY 2012A, the decline is in part due to the re--segmentation of RENT OTT Home revenue to AMI."
RENT closed at $15.70 on Thursday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.