BMO Capital Upgrades TubeMogul, Inc (TUBE) to Outperform

BMO Capital upgraded TubeMogul, Inc (NASDAQ: TUBE) from Market Perform to Outperform with a price target of $15.00 (from $11.00).

Analyst Dan Salmon commented, "Recent industry developments and company-specific actions indicate an acceleration of TubeMogul’s momentum. These include: 1) TubeMogul’s integration with FreeWheel’s FourFronts program and the potential to build a broader relationship with Comcast (FreeWheel’s owner) as industry-wide and TubeMogul-specific programmatic TV initiatives accelerate faster than expected; 2) while the jury is still out on marketers’ taking programmatic buying in house, TubeMogul should benefit by either supporting clients directly or via agencies; 3) a new SVP of Enterprise Sales joined last week to support both of these pushes, and; 4) major clients Mondelez and Allstate are among the most vocal pushing programmatic. We believe TubeMogul should see higher Platform Direct spending as Mondelez executes its larger YouTube commitment through it and we believe some of the $50 million in spending Allstate shifted from Marchex could end up being executed via Platform Direct as well."

For an analyst ratings summary and ratings history on TubeMogul, Inc click here. For more ratings news on TubeMogul, Inc click here.

Shares of TubeMogul, Inc closed at $11.48 yesterday.

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