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UPDATE: Deutsche Bank Downgrades Bazaarvoice to Hold on Lawsuit Uncertainty

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Bazaarvoice Tops Off Q2 Beat With Acquisition News
5 Biggest Price Target Changes For Tuesday

Deutsche Bank downgraded Bazaarvoice (NASDAQ: BV) from Buy to Hold and lowered the price target from $25.00 to $7.50.

Deutsche Bank noted, "The primary reason for our rating move is the near-term uncertainty of the DoJ lawsuit. The documents the DoJ filed with the court cited various internal communications between management that noted the PowerReviews acquisition would alleviate pricing pressure, lessen the need for a technological arms race, reduce existing competition and widen the competitive moat thereby reducing the possibility of new entrants. … We expect the lawsuit to be a multi-quarter overhang on the shares and fear execution distraction."

Bazaarvoice closed at $6.65 on Monday.

Latest Ratings for BV

DateFirmActionFromTo
Nov 2017B. RileyDowngradesBuyNeutral
Nov 2017Credit SuisseDowngradesOutperformNeutral
Sep 2017Credit SuisseMaintainsOutperform

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Posted-In: Deutsche BankAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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