Benchmark Maintains Buy on Nielsen Holdings

Benchmark reiterates a Buy rating for Nielsen Holdings NLSN and a price target of $34. Benchmark notes, “Nielsen lowered its top-line revenue guidance from 5-7% to 5-6% y/y. As a result, we are trimming our revenues and EPS estimates to reflect a slight slowdown in Insight revenue growth and a slowing in developing markets from global multi-national customers, as well as unfavorable currency trends. Management views the slowdown in Insight revenues as temporary, which we believe is reflective of cautionary measures on the part of customers in response to unsettled economic conditions. Growth in Information Services and Watch revenues remains on track, including steady progress on Nielsen Online Campaign Ratings (OCR) service. We maintain our Buy rating.” NLSN closed at $27.37 yesterday.