UPDATE: Deutsche Bank Raises PT on Neustar on Modest Beat and Guidance
In a report published Wednesday, Deutsche Bank reiterated its Hold rating on Neustar (NYSE: NSR), and raised its price target from $38.00 to $42.00.
Deutsche Bank noted, “Modest beat; guidance appears conservative. $214.2m/$0.56 vs. consensus of $214.1m/$0.55. Full-year guidance of $905m/$3.35 at midpoint is consistent with analyst estimates of $909m/$3.20, we believe allowing for upside through the year. Management tone appeared fairly upbeat, with Enterprise and Information Services segments performing well and the cross-sell opportunity appearing to show early success. The NPAC RFP decision date has now slipped to August and we continue to believe that NSR has a good chance of success. However we reiterate our Hold rating on a combination of full valuation and slight uncertainty.”
Neustar closed on Tuesday at $45.00.
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Tags: Deutsche Bank