MNTN initiated with an Equal Weight at Morgan Stanley

Morgan Stanley analyst Matthew Cost initiated coverage of MNTN (MNTN) with an Equal Weight rating and $20 price target MNTN has the opportunity to bring new budgets into streaming TV by scaling its performance ad platform for small businesses, the analyst tells investors in a research note. The firm sees a path to 20% sales growth and significant margin expansion, but says the stock’s valuation seems fair at current levels. It awaits a better entry point.