Bankrate Upgraded By Stifel Nicolaus (RATE)
Shares of Bankrate Inc. (NYSE: RATE) soared about 12.5% on Friday after Stifel Nicolaus analyst, Jordan Rohan raised rating on the stock to “buy” from “hold”, and set a price target of $17 a share, citing that worst might be over for the online personal finance content publisher.
Two months ago, Bankrate shares plunged to a 52 week low after the Company posted lower-than-expected results and provided downbeat guidance on the fiscal year 2013.
The North Palm Beach, Florida-based Company, which made its IPO in June 2011, publishes, aggregates and distributes personal finance content on the Internet through its site Bankrate.com and other personal finance websites. The Company also offers services to personal finance websites that include Bloomberg, Yahoo, CNBC and AOL, along with licenses for editorial contents to over 100 newspapers and information to credit card companies, mortgage lenders and insurance companies.
In his research report which was released on Friday, Rohan said 2013 might be better for the Company since expectations are lower and the company is putting concerted efforts to improve its insurance-leads business.
Rohan also added that some of the Company’s other properties, for instance, CreditCards.com might perform better since it provides strong incremental profit margins.
Although CreditCards.com business was hurt last year as leading credit card companies preferred only people with high credit score, this year, Rohan believes will be different as the card issuers might focus on broader market which in turn benefit Creditcards.com viewers.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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