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Investing.com - Citizens JMP raised its price target on MNTN Inc (OTC:MNTN) to $33.00 from $30.00 on Wednesday, while maintaining a Market Outperform rating on the stock. The stock, currently trading at $31.47, has gained nearly 20% over the past six months. According to InvestingPro analysis, MNTN appears to be trading above its Fair Value.
The investment firm cited MNTN’s unique positioning to bring performance-based TV advertising to small and medium-sized businesses (SMBs) as a key factor in the price target increase.
Citizens JMP highlighted that MNTN enables the creation of TV ads, targeting, and measurement for these businesses, while noting that 77% of the company’s revenue came from inbound leads, demonstrating cost-effective customer acquisition.
The firm expressed confidence in MNTN’s growth potential within the approximately $60 billion U.S. TV advertising market, suggesting the company remains in early stages of its growth trajectory.
Citizens JMP stated it believes MNTN "can continue to surprise to the upside" as the company leverages 15 and 30 second TV ad formats that allow marketers to tell stories with "sight, sound, and motion on the biggest screen in the home."
In other recent news, MNTN Inc has been the focus of multiple analyst reports due to its recent performance and strategic positioning in the advertising market. JMP Securities raised its price target for MNTN to $30.00, up from $23.00, citing growth in small and medium-sized business advertising and maintaining a Market Outperform rating. This comes ahead of MNTN’s first earnings report as a public company, with JMP expecting results to surpass both their own and consensus projections. Meanwhile, Tigress Financial Partners initiated coverage with a buy rating and a $28.00 price target, highlighting the company’s strengths in the Connected TV advertising market and its operational efficiency improvements. Raymond (NSE:RYMD) James also started coverage with an outperform rating and a $27.00 price target, emphasizing MNTN’s focus on connected television and small business segments. Both Tigress and Raymond James pointed to MNTN’s innovative approach and first-mover advantage in the market. Additionally, Citizens JMP reiterated its Market Outperform rating with a $30.00 price target, following MNTN’s efficiency gains during Amazon (NASDAQ:AMZN) Prime Day. These developments reflect a growing confidence among analysts in MNTN’s market strategy and performance potential.
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