Brean Capital Sees Rentrak as Poised to Generate Accelerating Growth

In a report published Thursday, Brean Capital analyst Todd Mitchell reiterated a Buy rating and $74.00 price target on Rentrak RENT. In the report, Brean Capital noted, “We accompanied Rentrak to meet with investors yesterday. In these meetings, management articulated a vision for accelerating growth driven by; 1) an acceleration in TV Essentials growth, 2) an emerging opportunity to measure on demand and OTT content, and 3) the divestiture of its declining legacy Home Entertainment business. "With Rentrak's AIM segment business hitting the inflection point of profitability, we believe this should translate to strong revenue and earnings growth going forward. Shares of RENT have significantly outperformed the market over the past year as the company has moved beyond proof of concept to execution. "We see the potential for even further outperformance as execution translates to earnings growth and believe this view is reinforced by the announcement yesterday of recent open market purchases of the company's stock by both the company's CEO and Chairman. As a result, we reiterate our Buy rating and $74 price target on shares of RENT.” Rentrak closed on Wednesday at $61.87.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorReiterationAnalyst RatingsBrean CapitalTodd Mitchell
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!