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UPDATE: Brean Capital Raises PT on Rentrak on Potential for Further Upside

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In a report published Wednesday, Brean Capital analyst Todd Mitchell reiterated a Buy rating on Rentrak Corporation (NASDAQ: RENT), and raised the price target from $58.00 to $74.00.

In the report, Brean Capital noted, “Shares of RENT have risen 175% over the past year, making them the best performing stock in our coverage. However, we see the potential for further upside from 1) an acceleration in TV Essential's growth, underpinned with another high-profile network deal, like the CBS deal, 2) a change in OnDemand data sharing rules, and the emergence of Rentrak as a currency for pricing on-demand advertising, and 3) a re-rating of Rentrak as a growth company with a SAAS business model, following the expected divestiture of its legacy Home Entertainment (HE) segment. As a result, we are raising our target price on RENT to $74 from $58, and we reiterate our Buy rating.”

Rentrak Corporation closed on Tuesday at $56.59.

Latest Ratings for RENT

DateFirmActionFromTo
Dec 2015Terminates
Sep 2015UpgradesMarket Perform
Sep 2015DowngradesStrong BuyBuy

View More Analyst Ratings for RENT
View the Latest Analyst Ratings

Posted-In: Brean Capital Todd MitchellAnalyst Color Price Target Analyst Ratings

 

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