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UPDATE: Bank of America Downgrades QuinStreet to Underperform on Industry Headwinds

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Bank of America reduced its rating on QuinStreet (NASDAQ: QNST) from Neutral to Underperform reiterated its $10 price objective on shares.

Bank of America noted, "We are downgrading QuinStreet (QNST), an online vertical marketing and media company, to Underperform. Our prior Neutral rating was predicated on our belief QNST would swiftly work through multiple industry headwinds while benefiting from its attractive price vs. peers. We now believe QNST's transition period will take longer than expected and believe Street's FY13 estimates are too optimistic. We are maintaining our $10 PO based on 6x our CY13E EV/EBITDA estimate."

QuinStreet closed at $10.01 on Monday.

Latest Ratings for QNST

DateFirmActionFromTo
Sep 2020Barrington ResearchUpgradesMarket PerformOutperform
Oct 2018William BlairInitiates Coverage OnOutperform
Jun 2018Craig-HallumInitiates Coverage OnBuy

View More Analyst Ratings for QNST
View the Latest Analyst Ratings

 

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Posted-In: Bank of AmericaAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

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