UPDATE: Bank of America Downgrades Synacor to Underperform on Persisting Headwinds

Bank of America downgraded Synacor (NASDAQ: SYNC ) from Buy to Underperform and lowered the price target from $9.00 to $5.00. Bank of America noted, "We see Synacor as an investment on the rise of TV viewing on the web and still like Synacor's opportunity for a transformative customer win