Janney Montgomery Scott maintains a 'Buy' on Digital Domain Media Group (DDMG); Raising Numbers on Abu Dhabi Grant

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Janney Montgomery Scott maintains a 'Buy' on Digital Domain Media Group (NYSE: DDMG) price target of $10.00 (from $9.00)

Analyst, Tony Wible, said, "We rate DDMG BUY, as it stands to benefit from new VFX production capacity and its transition towards becoming a full production animation studio. The legacy VFX business should grow, but more importantly it allows the company to produce high quality content for less money, while its move into education provides stability, access to talent, and low cost labor. In the interim, DDMG should benefit from stable high margin grant payments and international expansion. We are increasing our Adjusted EBITDA estimates for 2013 and 2014 and fair value to $10, based on details of the Abu Dhabi deal."

For an analyst ratings summary and ratings history on Digital Domain Media Group click here. For more ratings news on Digital Domain Media Group click here.

Shares of Digital Domain Media Group closed at $6.98 yesterday, with a 52 week range of $4.90-$9.20.

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