Analysts’ Notes: BlackBerry Ltd (NASDAQ:BBRY), Orient-Express Hotels Ltd.(NYSE:OEH), United Online, Inc.(NASDAQ:UNTD)
Lakeway, NY — (Market News Call) — 10/28/2013 — Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market about the small and penny stocks, issues news alert on BlackBerry Ltd(NASDAQ:BBRY), Orient-Express Hotels Ltd.(NYSE:OEH), United Online, Inc.(NASDAQ:UNTD).
Cowen notes, shares of BlackBerry Ltd(NASDAQ:BBRY) are trading lower today after plans for a Fairfax Financial Holdings-led consortium to acquire the co and take it private failed to materialize during the allotted due diligence period. Firm’s price target is currently under review, given: 1) BBRY is likely to consume additional cash and assets during its current restructuring 2) co has had mixed success in driving adoption of its BlackBerry Enterprise Service 10 (BES 10) and its BlackBerry Messenger (BBM) service on alternative mobile platforms, 3) the relative value of its patent portfolio continues to decline, and 4) as a public company, BBRY stock is likely to continue to trade at a discount to a declining tangible book value despite the $1B raise until a go-forward operational plan and strategy is articulated by the new mgmt team (potentially including the break-up and/or sale of parts of co, given the significant number of reported suitors).
MKM Partners raised their Orient-Express Hotels Ltd.(NYSE:OEH) tgt to $18 from $14.25 as (1) the new mgmt team is starting to execute; (2) co has increased flexibility with its improving balance sheet; (3) there is runway for additional outperformance; (4) board realignment and new management team; and (5) positive macro backdrop. Several data points are now moving in the right direction for a co that firm believes is still in the early stages of a turnaround.
The Benchmark Company raised their United Online, Inc.(NASDAQ:UNTD) tgt to $18 from $9 after establishing proforma estimates for UNTD following the spin-off of FTD on Nov 1. While firm recognizes the ongoing challenges in the Content & Media and Communications segments, they believe the turnaround story remains on track, with the consolidated revenue decline expected to moderate from 10% y/y in 2013 to under 5% in 2014, and the consolidated OIBDA decline to moderate from 19% y/y in 2013 to 12% y/y in 2014.
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Tags: BlackBerry Ltd (NASDAQ:BBRY), Inc. (NASDAQ:UNTD), Orient-Express Hotels Ltd.(NYSE:OEH), United Online