Wunderlich Securities Sees Zenith Media Announcement as Good for Rentrak Corporation

In a report published Friday, Wunderlich Securities analyst Matthew Harrigan reiterated a Buy rating and $75.00 price target on Rentrak Corporation RENT. In the report, Wunderlich Securities noted, “Early this morning Zenith Media, owned by world's #2 media counseling and buying group, Publicis, announced that it is making Rentrak its TV currency for local TV buying. Zenith is now the first national agency to use Rentrak's local TV currency as its negotiation tool for TV campaigns. Nielsen's issues with survey sample size are particularly salient in local TV markets to the extent that Zenith is actually replacing Nielsen's (NLSN-NR) ‘low response rate, highly unpredictable surveys with massive and passive measurement' according to Zenith Chief Data Officer Rob Jayson. We expect to review our Buy-rated Rentrak (RENT) target and estimates concurrent with its October 9 Investor Day.” Rentrak Corporation closed on Thursday at $60.21.