TubeMogul Will Benefit From Secular Growth In Video Ads, Expert Says

In a report published Friday, Albert Fried & Co analyst Richard Tullo maintained an Overweight Neutral rating on

, with a price target of $28. In the report, Albert Fried & Co noted, "Since we initiated coverage TUBE shares are down about 20% and while we are disappointed in the share price performance we think fundamentals are intact. We think shares are lower on short and lockup related selling." "We think TUBE nicely fits with our secular investment view stating Linear TV is maturing and OTT will in part be funded by advertising…As IP ads are more engaging than Linear TV ads we think advertisers will invest in IP video advertising " Tullo wrote.