UPDATE: J.P. Morgan Reiterates Neutral Rating, Lowers PT on Bankrate
In a report published Wednesday, J.P. Morgan & Co. reiterated its Neutral rating on Bankrate (NYSE: RATE), but lowered its price target from $20.00 to $10.00.
J.P. Morgan noted, “We believe Bankrate is well positioned to benefit from the secular and cyclical growth of online financial services advertising. Bankrate's rich content and information make it a primary destination for personal finance research and we believe the company is more diversified through key acquisitions in insurance and credit cards. However, Bankrate is in the process of removing underperforming leads in its insurance segment and softness in credit card approvals could weigh on near-term results.”
Bankrate closed on Tuesday at $11.26.
Latest Ratings for RATE
|Sep 2014||Topeka Capital||Downgrades||Hold||Sell|
|Aug 2014||JP Morgan||Maintains||Neutral|
|Jun 2014||RBC Capital||Upgrades||Sector Perform||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.