Synacor (SYNC +2.7%) trades higher BofA upgrades to Buy, albeit while maintaining its $11...

|About: Synacor (SYNC)|By:, SA News Editor

Synacor (SYNC +2.7%) trades higher BofA upgrades to Buy, albeit while maintaining its $11 target. The upgrade is valuation-based - Synacor has fallen sharply after getting bid up thanks to Jonathan Lebed's promotional work, and BofA thinks a 9x estimated 2013 EV/EBITDA ratio is reasonable. Today's gains come even though Envivio, another TV Everywhere play, is diving thanks to a poor earnings report. (yesterday)