Piper Jaffray Maintains RealNetworks Underweight, Raises PT To $3.50 (RNWK)

Piper Jaffray maintained its RealNetworks

Underweight rating and raised RealNetworks' price target to $3.50 from $2.50 in a research report published today. In the report, Piper Jaffray states, "RealNetworks reported Q4 revenue above Street estimates and issued Q1 and FY11 guidance essentially in line with the Street. During the earnings call the company indicated that it will begin to execute its strategy in 2011 that will fuel growth in 2012. 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." Shares of RealNetworks were at $3.90 in after hours trading, down 0.02% from Thursday's market close.