Goldman Sachs Upgrades Demand Media (DMD) to Buy
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Price: $6.35 --0%
Rating Summary:
7 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs upgraded Demand Media (NYSE: DMD) from Neutral to Buy, saying the stock has overreacted to the impact of Google's "Panda 2" algorithm changes.
Since the change shares are down 40% and are 20% below its IPO price, despite a likely single-digit impact to earnings.
"We believe current valuation reflects future negative changes that are unlikely to
materialize," the analyst said.
Goldman set a $21 6-month price target, suggesting 60% upside.
For more ratings news on Demand Media click here and for the rating history of Demand Media click here.
Shares of Demand Media closed at $13.14 yesterday.
Since the change shares are down 40% and are 20% below its IPO price, despite a likely single-digit impact to earnings.
"We believe current valuation reflects future negative changes that are unlikely to
materialize," the analyst said.
Goldman set a $21 6-month price target, suggesting 60% upside.
For more ratings news on Demand Media click here and for the rating history of Demand Media click here.
Shares of Demand Media closed at $13.14 yesterday.
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