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Friday, Oct 4
Harte-Hanks climbs on BMO upgrade
- Shares of Harte-Hanks (HHS +6.4%) trade up after BMO Capital upgrades the marketing services provider to Outperform from Perform and ups its PT to $10 from $9.
- Analyst Dan Salmon is bullish as Harte-Hanks divests the underperforming Shoppers business in the near-term, allowing the company to focus on its stronger Digital Marketing unit.
- Salmon: "Harte-Hanks’ digital investments have lagged competitors over the past decade, and we believe new CEO Robert Philpott will begin to address this, in particular through M&A, as he took a decidedly acquisitive tone in his comments to investors on the company’s 2Q13 earnings call. We have long believed that the Trillium BI Analytics product is an underappreciated asset, and now view it as the starting point for building out the company’s new strategy."