UPDATE: J.P. Morgan Downgrades MediaMind to Neutral

J.P. Morgan is out with its report today on MediaMind MDMD, downgrading MDMD from Overweight to Neutral. In a note to clients, J.P. Morgan writes, "Given what we believe is limited possibility of a competitive bid and the DG offer now priced into the stock, we are assuming coverage with a Neutral rating and $22 price target. Our price target implies 14x 2012E EBITDA of $29 million and 27x 2012E PF EPS of $0.81." Shares of MDMD closed Thursday at $21.91, up 37.45% from Wednesday's close.
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Posted In: Analyst ColorDowngradesPrice TargetAnalyst RatingsJ.P. Morganmediamind
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