Goldman Sachs Lifts Price Target On Demand Media (DMD), Keeps Neutral Rating

Goldman Sachs bumped up its price target on Demand Media (NYSE: DMD) from $8.25 to $8.50 while maintaining their Neutral rating following Q3 results which were 13% better than the firm's expectations on EPS and EBITDA. Net revenue was in-line with the firm's views.

The firm noted that full year 2011 guidance remained mostly intact with revised operating income guidance coming in at a loss of $8.25 million, at the mid-point versus prior guidance. Overall IRRs improved the firm noted. Also video content could drive better IRRs. The company begins production for its three new YouTube channels in Q4, recognizing revenue and variable costs in Q112.

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

Shares of Demand Media closed at $7.08 yesterday.

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