UPDATE: Wunderlich Securities Reiterates Buy Rating, Raises PT on Rentrak Corporation on Valuation Upside

In a report published Monday, Wunderlich Securities analyst Matthew Harrigan reiterated a Buy rating on Rentrak Corporation RENT, and raised the price target from $80.00 to $93.00. In the report, Wunderlich Securities noted, “We are now increasing our price target on Buy-rated Rentrak (RENT) to $93 from $80 off a new analysis that looks at Rentrak's TV Everywhere sales potential relative to larger competitor Nielsen (NLSN-NR). We have nil confidence in nailing outer year estimates but with so many clients and partners attesting to the superiority of Rentrak's census products, including GroupM Global Chairman Irwin Gottlieb, there is asymmetric risk to the upside. The new $93 target adjusts for the WPP plc/GroupM/Kantar deal and still relies on WSI's S&P linked valuation approach.” Rentrak Corporation closed on Friday at $79.68.