MNTN price target raised to $32 from $27 at Raymond James

Raymond James raised the firm’s price target on MNTN (MNTN) to $32 from $27 and keeps an Outperform rating on the shares. With the Q2 open web adtech earnings cycle set to kick off, the firm says it is generally most positive on companies with the greatest CTV exposure, highlighting companies including Viant (DSP), Roku (ROKU), MNTN, and Nexxen (NEXN). For MNTN, the firm notes that its multiple is near the high end of our adtech comp group range given its expectation for revenue growth near the high end of the peer set as well as above-average and improving EBITDA margins.