MNTN price target lowered to $22.50 from $25 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on MNTN (MNTN) to $22.50 from $25 and keeps an Equal Weight rating on the shares after what the firm calls “solid results in its second public quarter.” Margins, and particularly gross margins, are “a key strength” in Q3 and the Q4 guidance, but the firm continues to await evidence of a customer growth inflection, the analyst tells investors.