KIT Digital, Inc fka KITDQ

[bowonwing]

ROO "buy," target price reduced to $3.00/shr from $3.50.

Tuesday, August 21, 2007 8:04:47 AM ET
Cantor Fitzgerald

NEW YORK, August 21 (newratings.com) - Analyst Boris Markovich of Cantor Fitzgerald maintains his "buy" rating on ROO Group Inc (ticker: RGRP), while reducing his estimates for the company. The target price has been reduced from $3.50 to $3.00.

In a research note published this morning, the analyst mentions that the company has reported its 2Q07 results broadly in-line with the estimates. ROO’s expenses for the quarter were higher than expected at approximately $900,000, the analyst says. The downward revision in the target price reflects the new valuation metric assumptions, Cantor Fitzgerald adds. The pro forma EPS estimates for FY07 and FY08 have been reduced from -$0.49 to -$0.55 and from 0.41 to $0.48, respectively.