According to a research report published earlier today, Brean Murry Carret & Co. sees the potential for significant appreciation as Rentrak's RENT strategic position becomes more apparent.
“Shares of RENT have recovered off their lows, but are still trading well below their intrinsic value. The recent acceleration in TVEssentials sign-ups by TV broadcasters is a clear indication of traction in Rentrak's intial target market, while Nielsen's conflict with Viacom over Nickelodeon ratings, and CNBC's move to guarantee advertisers high-income households with TVEssentials data, highlight incursions into much deeper markets,” Brean Murray Carret & Co. said in the report.
Brean Murray Carret & Co. reiterates its Buy rating and increases PT from $21 to $30 on Rentrak Corporation, which closed Friday at $19.49.
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