Wells Fargo Upgrades MDC Partners (MDCA) to Outperform; Revises Estimates as Growth Underappreciated

Wells Fargo upgraded MDC Partners (NASDAQ: MDCA) from Market Perform to Outperform, price target range $15-$17 from $15-16.

Analyst, Peter Stabler, said, "In MDCA we see multi-year organic growth and margin ramp, and company delevering as providing opportunity to drive 2011-2014 EBITDA and Free Cash Flow CAGRs of 20%+ and 40%+. Attractive 5.7% dividend yield adds meaningfully to growth profile, in our view."

"Our FY2012E revenue and EBITDA climb to $1.06B and $113MM, from $1.05B
and $109MM. Our 2013 estimates are lifted to $1.13B and $130MM, from $1.1B
and $128MM, respectively. Our 2012 non-GAAP EPS estimate falls to -$0.93
from -$0.21 driven by Q1 2012 result flow-through. Our 2013E non-GAAP EPS
climbs $0.15 to $0.25."

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

Shares of MDC Partners closed at $9.86 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Calian Group Ltd (CGY:CN) (CLNFF) PT Raised to Cdn$109 at Desjardins
• Zedcor Inc (ZDC:CN) PT Raised to Cdn$7.75 at Desjardins