MNTN initiated with an Outperform at Evercore ISI

Evercore ISI initiated coverage of MNTN (MNTN) with an Outperform rating and $27 price target MNTN’s stated mission is to “transform connected TV into a next-generation performance marketing channel,” the analyst tells investors in a research note. The firm says the company’s platform allows marketers to combine the experiential impact of connected TV – non-skippable video ads presented on the largest screen in the home, typically adjacent to premium, brand-safe publisher content. Evercore’s thesis predicated on the view that MNTN has established market leadership in the emerging programmatic TV segment.