Shares of Millennial Media (MM) Trading Over 5% Higher - Canaccord Genuity Starts Coverage At 'Buy'
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Price: $7.31 -1.75%
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade MM Now!
Shares of Millennial Media (NYSE: MM) are moving higher, currently trading up 5.29%. No specific news reports were released, however, Canaccord Genuity did initiate coverage on the stock this morning.
Analyst, Michael Graham, started coverage on Millennial Media with a Buy rating and $18 price target.
Graham said, "We expect competitive intensity may soften this year as Apple’s iAd loses share, only to intensify next year as innovative players gain funding. Long term, we envision a market with fewer players (2-3 mobile ad networks also offering agency, targeting, and analytics services), and believe Millennial should be one of these survivors."
He also believes that as an advertising pure-play, the stock should benefit from stronger spending habits, but did note a few risks including: 1) limited operating history; 2) Mobile advertising could develop slow; 3) Lockup release in September.
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Analyst, Michael Graham, started coverage on Millennial Media with a Buy rating and $18 price target.
Graham said, "We expect competitive intensity may soften this year as Apple’s iAd loses share, only to intensify next year as innovative players gain funding. Long term, we envision a market with fewer players (2-3 mobile ad networks also offering agency, targeting, and analytics services), and believe Millennial should be one of these survivors."
He also believes that as an advertising pure-play, the stock should benefit from stronger spending habits, but did note a few risks including: 1) limited operating history; 2) Mobile advertising could develop slow; 3) Lockup release in September.
To see more ratings on MM, Click Here
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