In a note dated November 4, Credit Suisse analyst Philip Winslow upgraded shares of Digital River, Inc. DRIV from Underperform to Neutral and raised the price target from $14 to $26.
Winslow began by noting Digital River beat consensus estimates for the third quarter on both the top and bottom line. With this and the recent announcement of the company's acquisition, he has raised his 2014 estimates to $376.5 million in revenue with an EPS of $0.51.
Looking forward, Digital River's management has lowered the high end of its full-year revenue guidance to $378 and has reiterated the low end at $375.
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