UPDATE: Jefferies Initiates Coverage on Tremor Video with Buy Rating, $12 PT on Good Market Position

In a report published Monday, Jefferies analyst Brian Pitz initiated coverage on Tremor Video TRMR with a Buy rating and $12.00 price target. In the report, Jefferies noted, “We are initiating coverage with a Buy rating and $12 PT. We believe Tremor is one of the better positioned companies in a fast growing segment of digital advertising, and the stock offers significant upside at today's price to our fair value estimate. Jefferies acted as a joint bookrunner in Tremor's June IPO.” Tremor Video closed on Friday at $8.38.