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Bank Of America Sees Search/Display Business Weakness On Synacor

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In a report published Wednesday, Bank of America analyst Nat Schindler reiterated an Underperform rating but lowered the price target from $2.50 to $2.40 on Synacor (NASDAQ: SYNC).

In the report, Bank of America noted, “Synacor has many desirable characteristics such as high revenue predictability and an industry leading position. Although we see many desirable characteristics and the opportunity for a transformative customer win, we expect the company to continue facing mobile and Windows 8 related headwinds in 2013. We believe a discounted multiple to online media peers is warranted given high customer concentration and greater uncertainty surrounding top-line growth.”

Synacor closed on Tuesday at $2.27.

Latest Ratings for SYNC

DateFirmActionFromTo
Aug 2014Albert Fried & Co.DowngradesOverweightMarket Perform
May 2014Bank of AmericaMaintainsUnderperform
Mar 2014Bank of AmericaMaintainsUnderperform

View More Analyst Ratings for SYNC
View the Latest Analyst Ratings

Posted-In: Bank of America Nat SchindlerAnalyst Color Price Target Analyst Ratings

 

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