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Fly News Breaks for March 9, 2017
RATE
Mar 9, 2017 | 07:30 EDT
Loop Capital analyst Blake Harper noted that Bankrate reported Q4 revenues and adjusted EBITDA that missed consensus as a large credit card customer pulled back spending after a successful card launch that had contributed to Bankrate's Q3 beat. However, he forecast the cards segment to grow 20% in 2017 and believes the banking segment will be up by a mid-single digit percentage range this year. Harper reiterates a Buy rating and maintains his $14 price target on Bankrate shares, which are down 15% to $9.25 in pre-market trading.
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