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UPDATE: J.P. Morgan Reiterates Neutral Rating, Lowers PT on Bankrate

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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

DateFirmActionFromTo
Sep 2014Topeka CapitalDowngradesHoldSell
Aug 2014JP MorganMaintainsNeutral
Jun 2014RBC CapitalUpgradesSector PerformOutperform

View More Analyst Ratings for RATE
View the Latest Analyst Ratings

Posted-In: J.P. Morgan & Co.Analyst Color Price Target Analyst Ratings

 

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