Inuvo initiated with a Buy at Ladenburg

Ladenburg initiated coverage of Inuvo with a Buy rating and $1 price target. The analyst says U.S. digital advertising spend is expected to exceed $290B in 2024 accounting for about 12% of total media spend. In this very large market space, companies with leading, cookie-less technologies, such as Inuvo, can grow and take market share, the analyst tells investors in a research note. The firm says Inuvo’s novel, market-leading artificial intelligence-based audience targeting solution positions the company for an extended period of top- and bottom-line growth.