OpenTable Inc.’s (OPEN) Price Target Raised
By Benzinga Staff
March 17, 2010 1:26 PM
March 17, 2010 1:26 PM
Analysts at Stifel Nicolaus have raised the price target for OpenTable Inc. (NASDAQ: OPEN) from $34 to $45.
The new price target set by analysts values the company’s North American operations at $915 million and its international operations, which is unprofitable, at $83.4 million. Analysts believe that the company’s growth prospects support their valuation. Analysts forecast the OpenTable’s international operations to turn profitable in 2103.
According to analysts, the company’s superior business model is based on a closed network and network effects. Stifel Nicolaus continues to rate OpenTable Inc. as Buy.
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