B. Riley FBR analyst Lee Krowl lowered his price target for Opera to $15 from $20 while reiterating a Buy rating on the shares. The analyst says multiple intra-quarter datasets suggest Opera's lending business performed well in Q4 and potentially tracked ahead of his $49M estimate. He believes the company's Indian market continues to scale quickly and is the key driver of lending momentum. Opera's current valuation is a "notable discount" to the comp group of both domestic and international comps and is especially pronounced when valuation is compared to revenue growth, Krowl tells investors in a research note. He views the current valuation as "compelling."