Millennial Media jumps ahead of Q4 earnings report

theflyonthewall.com

Shares of Millennial Media (MM), which provides a platform for mobile ads, are surging ahead of the company's fourth quarter results. The company's resulted are scheduled to be announced on Tuesday, February 19, after the market closes. In a note to investors earlier today, Oppenheimer analyst Jason Helfstein predicted that the stock would climb after the company reports its results. Helfstein's research indicates that the company will face limited competition in the mobile ad market over the short-term, he wrote. Moreover, he expects the company to report solid results. Finally, he notes that Millennial Media's stock has a high short interest, and that many stocks with a high short interest have rallied during the current earnings season. The analyst maintained a $19 price target and Outperform rating on the shares, which jumped $1.00, or 8%, to $13.50 in early trading.

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