Zacks Investment Research upgraded shares of Acxiom Corporation (ACXM) from UNDERPERFORM to NEUTRAL on February 03, 2014, with a target price of $38.00.
We have changed our long-term recommendation for Acxiom from Underperform to Neutral as we anticipate it to perform in-line with the broader market. Acxiom reported healthy third quarter 2014 results as adjusted earnings beat the Zacks Consensus Estimate of $0.18. Revenues for the reported quarter also increased year over year. Over the years, Acxiom has emerged as a formidable player in the field of marketing services and technology. The company is focusing on its core businesses across key regions for augmenting its long-term margins and also expects to trim down its annual cost by $20 million to $30 million in the coming few months. However, Acxiom operates in a competitive landscape that is becoming more complex with low barriers to entry, which adds to operating risks.
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