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Brean Capital Sees Rentrak as Poised to Generate Accelerating Growth

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In a report published Thursday, Brean Capital analyst Todd Mitchell reiterated a Buy rating and $74.00 price target on Rentrak (NASDAQ: RENT).

In the report, Brean Capital noted, “We accompanied Rentrak to meet with investors yesterday. In these meetings, management articulated a vision for accelerating growth driven by; 1) an acceleration in TV Essentials growth, 2) an emerging opportunity to measure on demand and OTT content, and 3) the divestiture of its declining legacy Home Entertainment business.

"With Rentrak's AIM segment business hitting the inflection point of profitability, we believe this should translate to strong revenue and earnings growth going forward. Shares of RENT have significantly outperformed the market over the past year as the company has moved beyond proof of concept to execution.

"We see the potential for even further outperformance as execution translates to earnings growth and believe this view is reinforced by the announcement yesterday of recent open market purchases of the company's stock by both the company's CEO and Chairman. As a result, we reiterate our Buy rating and $74 price target on shares of RENT.”

Rentrak closed on Wednesday at $61.87.

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 Reiteration Analyst Ratings

 

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