Market Overview

UPDATE: Piper Jaffray Initiates Coverage on Rocket Fuel as Display Markets Shift to RTB

Share:

In a report published Tuesday, Piper Jaffray analyst Gene Munster initiated coverage on Rocket Fuel (NASDAQ: FUEL) with an Overweight rating and $70.00 price target.

In the report, Piper Jaffray noted, “While Rocket Fuel has far surpassed its IPO price, we to believe the momentum of the shift to real-time bidding (RTB) platforms for all forms of display media will offer continued high growth for the company. We believe that as the display market continues to shift to sales via RTB, which represented 16% of display in 2012 and we believe is headed to 50%+ in the next five years, that Rocket Fuel should be able to sustain its impressive growth rates. Given our expected growth rates of 80%+ in CY14 and 60% + in CY15, we believe that FUEL deserves to trade at a valuation that would put it ahead of many of its peers and closer to industry leaders. As a result, we initiate with an Overweight on shares of FUEL with a $70 price target.”

Rocket Fuel closed on Monday at $61.40.

Latest Ratings for FUEL

DateFirmActionFromTo
May 2017Credit SuisseDowngradesOutperformNeutral
Apr 2016CitigroupInitiates Coverage onSell
Nov 2015Boenning & ScattergoodInitiates Coverage onNeutral

View More Analyst Ratings for FUEL
View the Latest Analyst Ratings

 

Related Articles (FUEL)

View Comments and Join the Discussion!

Posted-In: Gene Munster Piper JaffrayAnalyst Color Initiation Analyst Ratings

Latest Ratings

StockFirmActionPT
TSLAJP MorganMaintains125.0
INTCTruist SecuritiesMaintains64.0
FBTruist SecuritiesMaintains320.0
GSCitigroupMaintains370.0
AAPLCowen & Co.Maintains153.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com