Canaccord Genuity Maintains a 'Buy' on Millennial Media (MM); Sound Competitive Position

September 12, 2012 9:56 AM EDT
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Price: $1.75 --0%

Rating Summary:
    5 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Canaccord Genuity maintains a 'Buy' on Millennial Media (NYSE: MM) price target of $18.00.

Analyst, Michael Graham, said, "We hosted a series of investor meetings with Millennial CFO Mike Avon. We believe there is room for increased sponsorship for MM stock as investors grow their comfort levels with key pillars of the story, mostly around market growth and competitive position."

"Millennial stock has been volatile as investors grapple with how to think about mobile trends at other Internet players (Google (Nasdaq: GOOG), Pandora (NYSE: P), Facebook (Nasdaq: FB)) and about MM’s long-term competitive position. We continue to believe Millennial is perhaps the cleanest way to play growth in mobile advertising, as it has no legacy desktop business to protect."

For an analyst ratings summary and ratings history on Millennial Media click here. For more ratings news on Millennial Media click here.

Shares of Millennial Media closed at $12.24 yesterday.

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