UPDATE: Bank of America Reiterates Underperform Rating, Lowers PT on QuinStreet

In a report published Wednesday, Bank of America reiterated its Underperform rating on QuinStreet

, but slightly lowered its price target from $7.00 to $6.00. Bank of America noted, “QuinStreet is facing multiple headwinds such as tough business environment ranging from competition to regulation causing declining revenues and likely eventual declining margins. Regulatory pressures in the for-profit education and financial services industries will likely take a long time to shakeout and will not likely be in QuinStreet's best interest.” QuinStreet closed on Tuesday at $5.99.