Morgan Joseph Raises Target on Marchex (MCHX) to $13
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Morgan Joseph raises its price target on Marchex (Nasdaq: MCHX) from $11 to $13 and reiterates its Buy rating on the stock.
The firm notes that Marchex's two key segments, Content Network and Advertising Services, performed better-than-expected over Q1, as seen in yesterday's earnings announcement. Additionally, Morgan Joseph said it is "very pleased with Marchex's strategy for long-term growth, its positioning in the marketplace, and its expanding product portfolio."
Marchex, Inc. operates as an online advertising company and publishes local content in the United States. [BCS]
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