ORLANDO, Fla., March 21, 2007 (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies, Inc., announced today that it has updated research on Greenfield Online, Inc. (Nasdaq:SRVY).
Lisa Springer, CFA, RedChip Senior Research Analyst, wrote in the report:
"We initiated coverage of Greenfield Online with a Speculative Buy rating and a target price of $8.11, citing as reasons to invest the Company's blue-chip-quality customer base and success in penetrating new geographic markets. We raised our target price last June to $10.50. We are raising our target price again to $12.00. We base that target price on a 27x P/E multiple of the consensus of analysts' estimates of EPS in 2007. At a current price of $14.91, these shares trade above our target; however, we would be buyers of shares of SRVY on price weakness."
To receive a complimentary copy of the RedChip Independent quarterly update for SRVY, please visit: http://www.redchip.com/independent/subscriber.asp?page=requestSRVY_Q4_2006s
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RedChip Independent Research Disclosure
The analysts contributing to this report do not hold any shares of SRVY. Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.