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Piper Jaffray has published a research report on RealNetworks, Inc.
RNWK as the company's return to growth proves challenging, and the transition phase continues.
In the report, Piper Jaffray writes "We are maintaining our Underweight rating as RealNetworks continues its transition phase under new management. RealNetworks reported Q3 revenue below Street estimates and its original expectations, and issued qualitative Q4 guidance essentially in-line with the Street. During the earnings call the company indicated it expects to complete its reorganization by mid-2011. We continue to take a wait-and-see approach to this transition and the impact on RNWK shares as the company begins its attempt to grow revenue."
Piper Jaffray maintains its Underweight rating and has lowered the price target from $3 to $2.50.
RealNetworks closed yesterday at $3.13.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsInformation TechnologyInternet Software & ServicesPiper JaffrayRealNetworks
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