Market Overview

UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on RigNet

Related RNET
RigNet (RNET) Falls: Stock Goes Down 5.4%
Will Scripps Networks (SNI) Disappoint Earnings this Season?

In a report published Monday, Deutsche Bank reiterated its Buy rating on RigNet (NASDAQ: RNET), and raised its price target from $21.00 to $25.00.

Deutsche Bank noted, “On 11/7, RNET reported strong 3Q results, generating record revenue and EBITDA, with the key highlight being a material beat in revenues from its core offshore/remote site communications services business. While top-line results were in-line, this was primarily due to lower than expected contributions from its systems integration business, which can be lumpy. Following strong 3Q results, we reiterate our positive view and increase our price target to reflect the roll-forward of our methodology to a YE13 target. Buy.”

RigNet closed on Friday at $17.92.

Latest Ratings for RNET

DateFirmActionFromTo
Dec 2013William BlairInitiates Coverage onOutperform
Nov 2013Deutsche BankMaintainsBuy
Oct 2013Deutsche BankMaintainsBuy

View More Analyst Ratings for RNET
View the Latest Analyst Ratings

Posted-In: Deutsche BankPrice Target Analyst Ratings

 

Related Articles (RNET)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters