Citigroup Comments on ReachLocal Ahead of Tomorrow's Earnings Report

Citigroup has published a research report on ReachLocal

ahead of the company's earnings report which is scheduled for Tuesday, November 1, 2011 after market close. In the report, Citigroup writes, "We are looking for $101MM in revenue and $4.2MM in EBITDA, which are generally in-line with guidance. For GAAP EPS, we are looking for a ($0.03) loss, which is in-line with the Street. Based on our model sensitivity work, we view our/Street estimates as reasonable for the quarter, with equal opportunity for upside vs. downside variance." Citigroup maintains its Buy rating and $27 price target on ReachLocal, which is currently trading down $0.51 from Friday's $10.70 closing price.