MNTN initiated with an Outperform at Raymond James

Raymond James initiated coverage of MNTN (MNTN) with an Outperform rating and $27 price target The company’s offering is tied to growth in connected television and performance advertising, the two most attractive growth areas in digital advertising, the analyst tells investors in a research note. The firm says MNTN has a first-mover advantage among an “underserved” customer segment in small businesses. The company’s early stage in scaling should lead to sustainable revenue trajectories around 20% year-over-year, contends Raymond James.