Goldman Sachs Maintains Buy on Millennial Media (MM)
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Price: $1.75 --0%
Rating Summary:
3 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
3 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Following the company's disappointing results yesterday, Goldman Sachs today maintained a Buy rating on Millennial Media (NYSE: MM) and lowered its price target to $17.00 (from $19.00).
"We believe the shortfall was largely the result of sales execution in an immature market and not a sign of competitive losses. We continue to believe Millennial will be a primary beneficiary of the growth in mobile and expect shares to outperform the broader internet space as mobile takes share of overall ad spending," said analyst Heath P. Terry.
For an analyst ratings summary and ratings history on Millennial Media (NYSE: MM) click here. For more ratings news on Millennial Media click here.
Shares of Millennial Media closed at $14.33 yesterday.
"We believe the shortfall was largely the result of sales execution in an immature market and not a sign of competitive losses. We continue to believe Millennial will be a primary beneficiary of the growth in mobile and expect shares to outperform the broader internet space as mobile takes share of overall ad spending," said analyst Heath P. Terry.
For an analyst ratings summary and ratings history on Millennial Media (NYSE: MM) click here. For more ratings news on Millennial Media click here.
Shares of Millennial Media closed at $14.33 yesterday.
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