Oppenheimer Comments On Meeting With Move's CFO

In a report published by Oppenheimer, Move MOVE management meeting suggests story is moving ahead.

Oppenheimer said that Eearlier this week, it met with Move's CFO. “The company highlighted its plans for increasing lead generation and pricing through three factors: 1) monetizing basic listings; 2) syndicating showcase listings across ListHub network in 2H11; and 3) leveraging data reporting to increase subscription prices in 2012. The company expects to syndicate listings in 2H11, and pricing increases to go into effect in 2012. It also plans to demonstrate its effectiveness, focusing on number of leads per dollar, supporting its planned increase in subscription prices. Mobile app usage continues to increase, generating 60,000 leads last year, and an iPad app is expected in 2Q. Move now powers MSN and AOL real estate sites. $3.00 price target unchanged. Maintain Outperform.”

Move closed yesterday at $2.10.