UPDATE: Ascendiant Capital Markets Initiates Points International at Buy on Competitive Positioning, Growth
Ascendiant Capital Markets initiated coverage on Points International, Ltd. (NASDAQ: PCOM) with a Buy rating and a $15.00 price target.
Ascendiant Capital Markets commented, "Points provides ecommerce and technology services to loyalty program operators. The company has over 40 of the top loyalty programs as partners (including the recent addition of Southwest Airlines), and we believe it is well positioned to gain additional partners and contracts in 2013. … Points should benefit from high growth rates in customer loyalty programs along with the rise in mobile Internet usage (which should drive increased usage of loyalty programs). We believe this provides solid market opportunities for the company."
Points International closed at $11.12 on Tuesday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.