Goldman Sachs Upgrades Millennial Media (MM) to Buy

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Goldman Sachs upgraded Millennial Media (NYSE: MM) from Neutral to Buy with a price target of $19, citing an attractive valuation.

"With the stock trading at 16X 2014E EV/EBITDA versus the Internet average at 12X despite a revenue growth outlook 2.7X the sector, we believe this is an attractive entry point," the firm said.

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 $12.44 yesterday, with a 52 week range of $10.98-$27.90.

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