MNTN initiated with a Positive at Susquehanna

Susquehanna analyst Shyam Patil initiated coverage of MNTN (MNTN) with a Positive rating and $38 price target MNTN is a leader in performance marketing for connected TV, the analyst tells investors in a research note. The firm says connected TV remains one of the fastest growing segments within digital advertising, and will remain the case for years to come. MNTN is focused on small businesses, which have significantly under-adopted connected TV, and advertisers continue to lean into performance advertising across their digital marketing strategies, which should drive faster growth for the performance marketing portion of the market, the analyst tells investors in a research note.