Feltl and Company Upgrades ICG Group to Strong Buy Rating
In a report released earlier today, Feltl and Company, Inc. upgraded ICG Group, Inc. (NASDAQ: ICGE) to a rating of Strong Buy, along with a price target of $13.
Feltl and Company went on to say in the report “We [arrive] at our $13 fair value target using a sum-of-the-parts approach, valuing ICGE's ownership percentage in each partner company individually based upon revenue multiples. While we believe it is difficult to properly value early-stage growth companies, we believe using recent valuations based on revenue in the public and private M&A markets gives us a reasonable base to think of the company in terms of valuation.”
ICG Group, Inc. closed Thursday at $8.47.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.