Deutsche Bank Reiterates Hold on Rentrak, Reduces PT to $21

Deutsche Bank reiterated its Hold rating on Rentrak (NASDAQ: RENT). At the same time, Deutsche Bank reduced its price target on the company's stock from $27 to $21. In a research report published today, Deutsche Bank stressed the company's bad quarterly performance as one of the reasons for its decision.

In the report, Deutsche Bank states, "A disappointing FY 4Q result reinforces our cautious stance on Rentrak shares. While linear TV audience measurement may be a transformative longer-term opportunity for Rentrak and we are believers in the coming of hybrid approaches, the company still has a lot of execution ahead to fulfill the market's expectations."

On Thursday, Rentrak closed the day at $22.44.