Brightcove upgraded to Buy from Hold at Lake Street

Lake Street analyst Eric Martinuzzi upgraded Brightcove to Buy from Hold with a price target of $5, up from $4.50. The firm expects Brightcove to get “multiple benefits” from its win at Yahoo, adding that in addition to the financial contribution of the deal itself, “there is also incremental brand value for Brightcove.” Prior to this “marquee win,” it seemed to the firm like Brightcove media customers were more inclined to take the video function in-house or to trim back their usage, but with today’s news, “Brightcove comes away with an excellent endorsement from a savvy buyer,” the firm contends.