QuinStreet price target raised to $20 from $14 at Craig-Hallum

Craig-Hallum raised the firm’s price target on QuinStreet to $20 from $14 and keeps a Hold rating on the shares. The firm says that Q4 is now level set, albeit at a moderately lower level. Craig-Hallum believes this removes downside risk, and has level-set expectations to reflect the current state of the insurance recovery. That said, the firm thinks there’s a scenario where additional carriers come to market and additional states achieve adequacy, setting up QuinStreet for positive revisions.