UPDATE: Benchmark Reiterates Buy Rating, Raises PT on Blucora
In a report published Friday, the Benchmark Company reiterated its Buy rating on Blucora (NASDAQ: BCOR), and raised its price target from $17.00 to $20.00.
Benchmark noted, “The stock market does not seem to fully comprehend the Blucora story: both segments possess sustainable and growing cash flow; operating momentum is powerful; and the balance sheet is strong with net cash of $1.68 per share. Our official full year estimates are proforma for TaxACT. Blucora is on pace to generate about $87 million in EBITDA and $ $1.95 in free cash flow per share, implying a 6.5x multiple or 15% yield.”
Blucora closed on Thursday at $12.75.
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