UPDATE: Imperial Capital Initiates Outperform, $11.75 PT on Demand Media; Growth Accelerating for 2013
Imperial Capital initiates its coverage on Demand Media (NYSE: DMD) with a rating of Outperform and a price target of $11,75 a share.
Imperial Capital notes, "Valuable, long-lived Internet content at scale size. As opposed to the traditional content model of creating articles/videos in hopes of attracting audiences, DMD utilizes proprietary algorithms and a vast array of data to determine what consumers are looking for online. DMD then determines the commercial viability of the content, and employs freelancers (writers, editors, etc.) to create the content at a much lower price than traditional content. The company has over 4mn articles and nearly 200,000 videos distributed across its Owned & Operated (O&O) and Network websites. DMD's largest website, eHow.com, ranked as the 17th largest U.S. website in March 2012, per comScore."
DMD closed at $9.80 on Wednesday.
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