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Deutsche Bank Lowers PT on Mediamind to $17 (MDMD)

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Deutsche Bank is out with its report today on Mediamind (NASDAQ: MDMD), lowering its PT from $18 to $17.

In a note to clients, Deutsche Bank writes, "We maintain our Buy investment rating on shares of MediaMind, and lower our price target from $18 to $17 due to our lower estimates in the near term. Overall, the 4Q revenue and earnings performance reinforced our core investment thesis that the MediaMind platform is positioned well to grab a growing share of the online display advertising market globally. There does appear to be a higher level of investment to support the business and its growth initiatives, at least in the near-term, which has led us to lower our estimates for 1H 2011 before the benefits begin to accrue in the back half."

Shares of MDMD traded after hours at $14.50, down 9.03% from Tuesday's close.

Posted-In: Deutsche Bank mediamindAnalyst Color Price Target Analyst Ratings

 

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