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UPDATE: Morgan Stanley Downgrades Millennial Media to Equal-Weight on Slower Growth, Share Loss

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Morgan Stanley downgraded Millennial Media (NYSE: MM) from Overweight to Equal-weight and lowered the price target from $18.00 to $14.00.

Morgan Stanley said, "Management blamed 4Q revenue underperformance on certain large brand campaigns that fell through at the end of the quarter. While this seems reasonable, disappointing 1Q and FY2013 guidance suggest a steep deceleration (to 50s growth from 88% in 3Q) and the potential for emerging competitive concerns. In particular, we see risk that competitors including Google and Facebook may be taking share, as they offer advertisers and agencies a single point of contact for desktop, mobile, and social ad campaigns."

Millennial Media closed at $14.33 on Tuesday.

Latest Ratings for MM

DateFirmActionFromTo
Aug 2014Canaccord GenuityMaintainsHold
Aug 2014First AnalysisDowngradesOverweightEqualweight
Jul 2014Evercore PartnersDowngradesOverweightEqual-weight

View More Analyst Ratings for MM
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Downgrades Analyst Ratings

 

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