UPDATE: Jefferies Reiterates Hold Rating, Lowers PT on Demand Media on In-Line 4Q12
In a report published Wednesday, Jefferies reiterated its Hold rating on Demand Media (NYSE: DMD), but slightly lowered its price target from $11.00 to $10.00.
Jefferies noted, “Maintaining our Hold rating while lowering our PT to $10. While the DMD story is getting more interesting with a spin-off and newer video initiatives, it's also less visible and we would recommend waiting to see the gTLD + Content strategy gain traction first before getting constructive on the name.”
Demand Media closed on Tuesday at $9.15.
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