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UPDATE: Deutsche Bank Downgrades Bazaarvoice to Hold on Lawsuit Uncertainty

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Credit Suisse Sees First Green Signs Of Recovery For Bazaarvoice Inc
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Deutsche Bank downgraded Bazaarvoice (NASDAQ: BV) from Buy to Hold and lowered the price target from $25.00 to $7.50.

Deutsche Bank noted, "The primary reason for our rating move is the near-term uncertainty of the DoJ lawsuit. The documents the DoJ filed with the court cited various internal communications between management that noted the PowerReviews acquisition would alleviate pricing pressure, lessen the need for a technological arms race, reduce existing competition and widen the competitive moat thereby reducing the possibility of new entrants. … We expect the lawsuit to be a multi-quarter overhang on the shares and fear execution distraction."

Bazaarvoice closed at $6.65 on Monday.

Latest Ratings for BV

DateFirmActionFromTo
Jul 2014B RileyInitiates Coverage onBuy
Jun 2014Credit SuisseMaintainsOutperform
Nov 2013Goldman SachsMaintainsNeutral

View More Analyst Ratings for BV
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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