MNTN initiated with an Outperform at Citizens JMP

Citizens JMP initiated coverage of MNTN (MNTN) with an Outperform rating and $23 price target The firm’s positive view is based on MNTN’s ability to attract small businesses and retain and grow their advertising budgets. The company has uniquely combined access to TV-quality video ads with an efficient go-to-market strategy that utilizes MNTN’s own advertising platform to today drive 74% of leads to be inbound, the analyst tells investors in a research note. Citizens believes it “remains extremely early” in connected TV scaling, saying MNTN can drive another performance channel alongside search and social, helping it to outperform estimates and investor expectations.