Piper Jaffray assumed coverage on Millennial Media MM with a Neutral rating and a $16.00 price target.
Piper Jaffray noted, "We believe Millennial remains well positioned as the top "independent" platform with scale to capitalize on the larger and growing mobile ad market. While the opportunities to participate in the growing mobile business is attractive, the risks are substantial, including heightened competition and challenges to monetizing its business model. With modest upside to our $16 target, we look for a more timely entry point and/or data points indicating Millennial can grow in excess of mobile ad market growth expectations."
Millennial Media closed at $14.20 on Friday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in