UPDATE: Morgan Stanley Initiates RetailMeNot at Equal-Weight on Favorable Valuation
In a report published on Tuesday, Morgan Stanley analyst Scott Devitt initiated coverage on RetailMeNot (NASDAQ: SALE) with an Equal-Weight rating.
In the report, Morgan Stanley stated, "RetailMeNot is the leading digital coupon marketplace with attractive growth prospects and a highly profitable model. However, the company is in the early stages of building a brand and current valuation largely reflects a favorable outlook. We initiate Equal-weight with a $28 DCF base case."
RetailMeNot closed on Monday at $32.28.
Latest Ratings for SALE
|Sep 2016||Boenning & Scattergood||Initiates Coverage on||Neutral|
|Sep 2016||Stifel Nicolaus||Downgrades||Hold||Sell|
|Sep 2016||Loop Capital||Initiates Coverage on||Hold|
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