Morgan Stanley Sees Good Potential Upside for Millennial Media
In a report published Thursday, Morgan Stanley analyst Jordan Monahan reiterated an Equal-Weight rating on Millennial Media (NYSE: MM).
In the report, Morgan Stanley noted, “MM is a large independent mobile ad network facing a rapidly expanding addressable market. It is competing aggressively, however, for market share against (1) larger, better-funded rivals and (2) emerging audience-buying platforms, both of which may represent a single point of contact for advertisers and agencies. MM currently achieves around one-third penetration of the global mobile installed base, which we expect to grow at a 35% CAGR from 2010-2015.”
Millennial Media closed on Wednesday at $6.15.
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