Oppenheimer Upgrading Online Resources Corp. (ORCC)

Oppenheimer & Co. is upgrading shares of Online Resources Corporation ORCC to Outperform with a $7 price target 12-18 months out on a turnaround in the company. In the research report, Oppenheimer writes, "We are upgrading ORCC to an Outperform rating and establishing a $7 price target. After execution missteps and sluggish growth in recent years, ORCC now seems to be in the early stages of a turnaround. Furthermore, we believe that ORCC could be sold within the next two years. After it lost a proxy fight in May 2009, the board underwent a change in composition, as did top management. In June 2010, ORCC hired a new CEO with a history of successful turnarounds and shareholder value creation. We continue to believe ORCC maintains valuable strategic assets, and comparable peer M&A multiples are well above ORCC's current valuation." Shares of ORCC gained 7 cents, good for a gain of 1.85% to close at $3.85 yesterday.