Piper Jaffray Downgrades ReachLocal To Neutral

Analysts at Piper Jaffray downgraded ReachLocal RLOC from Overweight to Neutral. The target price for ReachLocal has been lowered from $12.00 to $5.00. ReachLocal shares have dropped 55.09% over the past 52 weeks, while the S&P 500 index has gained 13.56% in the same period. ReachLocal's shares surged 2.24% to close at $6.40 yesterday.