ComScore Inc. shares were down more than 5% after the stock was downgraded to neutral at SunTrust on Tuesday. Analyst Matthew Thornton wrote in a note to clients consensus estimates are too high for the the cross-platform measurement company, while visibility into its growth and margin is low. Shares of ComScore are down nearly 23% in the year to date, while the S&P 500 Index is up close to 7%. The stock has seen a recent rally, with shares up 22% since the company management replaced the CEO and delayed quarterly earnings on Aug. 10 due to an ongoing accounting probe, wrote Thornton. “[It] likely lowered risk of a material restatement and reduced uncertainty around management continuity.” Thornton wrote that he’s waiting on the sidelines until ComScore’s disruption and competition visibility improves, which could take months.
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