UPDATE: Albert Fried & Company Downgrades Synacor On Good Market Position

In a report published Thursday, Albert Fried & Company analyst Rich Tullo downgraded the rating on Synacor (NASDAQ: SYNC) from Overweight to Market Perform, and lowered the price target from $5.00 to $3.50.

In the report, Albert Fried & Company noted, “SYNC's strategic positioning, sticky client base and unique service offering is interesting in our view. Recent changes in Search Industry policies disrupted SYNC's organic revenue prospects in 2013/14 we think SYNC is still positioning to recover as Apps hubs can create a native platform that extends SYNC beyond on the desktop. Owing to SYNC's back end billing data we think the Company is well positioned to provide these services but the clock is running.”

Synacor closed on Wednesday at $2.13.