In a research report published today, Morgan Stanley downgraded Demand Media DMD from Equal-weight to Underweight.
In the report, Morgan Stanley commented, “DMD is transitioning content production from low-cost/short-form to higher-cost/ uncertain-ROI, thus competing with better-known, better-funded media brands. We see little early evidence of success and view the stock's risk/reward as less attractive than peers.”
Morgan Stanley maintains its $7 PT on Demand Media, which closed yesterday at $6.38.
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