Digimarc (DMRC) Surges as Wal-Mart (WMT) Deal Appears to Gain Traction

Digimarc (NASDAQ: DMRC) is surging today (+10.7%) and Cowen knows the reason why.

Analyst Robert Stone commented, "We know that WMT has been evaluating DMRC Discover digital watermarking in weekly ad circulars in some markets, and examples were in the booth at the NRF show in January. The stock appears to be reacting today to an Instagram post by WMT CEO, Doug McMillon, which notes that watermarks are being tested on packaging and "could transform the way our customers check out."

The firm reiterated an Outperform rating and price target of $45.

For an analyst ratings summary and ratings history on Digimarc click here. For more ratings news on Digimarc click here.

Shares of Digimarc closed at $32.69 yesterday.

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