GVC Capital LLC Raises Price Target on ID Watchdog; New Report Updates Coverage and Raises Price Target to $0.90
DENVER, Jun. 24, 2011 /PRNewswire/ -- ID Watchdog, Inc. (OTC:IDWAF) (TSXV:IDW), which provides acclaimed consumer-facing identity theft protection and resolution services, today announced the release of an in-depth research update by Analyst Michael Shonstrom of fee-based research firm and investment bank GVC Capital LLC.
Excerpt from the GVC Capital LLC Report:
"As pointed out in previous reports, the estimated size of the identity and credit protection market is several billion dollars and is dominated by the credit bureaus. The sales approach to building a customer base is through traditional media advertising. This is costly and the industry continues to struggle with acquisition costs and retention. One of the few companies able to build a profitable business has been Intersections (INTX), which supplies these services on a white label basis to major financial institutions for inclusion on their online banking websites. We believe IDW can build a similarly profitable base of customers, using the loyalty and trust established by the antivirus brands. (As an example, Avast gains a large number of its new downloads through recommendations from its user base and is ranked highly in PC Security software reviews). We are raising our rating to Speculative Buy with a $0.90 price target."
The complete report is available in Acrobat format, free of charge at: http://www.idwatchdog.com/ir.php
About ID Watchdog, Inc.
ID Watchdog, Inc. was founded in 2005 and is headquartered in Denver, Colorado. The company provides patent-pending, three-tiered comprehensive monitoring, detection and resolution for identity theft. ID Watchdog proactively detects identity theft problems at their source and provides immediate resolution services to ensure complete peace of mind for individuals. All the company's services have been developed with input from industry experts; national consumer advocacy groups; federal, state, and local law enforcement agencies; consumer protection agencies; and adhere to guidelines published by the Consumer Federation of America. For more information, please visit www.IDWatchdog.com.
Forward-Looking Statement
This news release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 which address future events and conditions which are subject to various risks and uncertainties. The actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. Although the Company believes that its expectations reflected in these forward-looking statements are reasonable, no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed in the company's filings with Canadian regulators at www.sedar.com. ID Watchdog assumes no obligation to update the forward-looking statements of management beliefs, opinions, projections, or other factors should they change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Company Contact:
ID Watchdog, Inc.
Justin Yurek
Investor Relations
303-339-8011
SOURCE ID Watchdog, Inc.
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