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Synacor, Inc. (SYNC) Message Board

  • traderjax75 traderjax75 Feb 22, 2013 7:42 AM Flag

    Bank of America Downgrades Synacor to Underperform on Persisting Headwinds

    Bank of America Downgrades Synacor to Underperform on Persisting Headwinds
    1:00p ET February 21, 2013 (Benzinga)
    Bank of America downgraded Synacor (NASDAQ: SYNC) from Buy to Underperform and lowered the price target from $9.00 to $5.00.

    Bank of America noted, "We see Synacor as an investment on the rise of TV viewing on the web and still like Synacor's opportunity for a transformative customer win (such as AT&T) to positively transform the model. Despite these desirable characteristics, we believe headwinds will likely persist and are lowering our rating to Underperform. We are taking our PO to $5 (from $9) based on 7x our lowered 2014 EV/EBITDA est, a discount to media peers but warranted given high customer concentration."

    Sentiment: Sell

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    • Yes, BofA like ALL analysts issue their incredibly insightful downgrades AFTER the carnage. Underperform rating after the stock drops 40%? Wow, I wish had that brilliant forecasting ability.

      • 2 Replies to ddbikessamsara
      • They issue and Underperform rating with a price target of $5 when the stock is trading at $3. That's a 66% UPSIDE on their Underperform rating. If 66% - which crushes any return the market has EVER given in the history of investing - is an underperform I wonder what their expectation is for the market?
        Analysts are useless with a pathetic history of missed calls and wrong calls - this particular call is classic in it's complete repudiation of the recommendation in their own price target. "It's a terrible stock and we hate it so we can only say we think it will be worth 66% more in a year than it is today"

        Sentiment: Buy

      • Wow, did these "headwinds" just appear overnight? When they ride this up from here, I suppose at some point around $6, they'll note improved "visibility" and revenue stream?

        Following their upgrades and downgrades are utterly useless.

 
SYNC
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