Needham & Company Starts Millennial Media (MM) at Hold

March 5, 2013 8:12 AM EST
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Price: $1.75 --0%

Rating Summary:
    5 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

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Needham & Company initiates coverage on Millennial Media (NYSE: MM) with a Hold.

The firm comments, "Given its leading position, we believe Millennial Media will be one of the primary beneficiaries of the rising tide of mobile advertising spending. We expect the company to continue to experience exceptionally strong growth over the next few years; however, we believe emerging competition in the space will make any substantial upside to current estimates difficult."

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 $8.96 yesterday.

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