Wit Capital Research Analyst Jordan
Rohan increased the 12- to 18-month price target on ad network 24/7 Media from $63 to $84 per
share, based on its move into e-mail marketing.
24/7 Media provides online advertising and direct marketing services to over
620 advertisers, ad agencies, and 2,700 Web sites.
“24/7 Media’s opt-in e-mail division, 24/7 Mail, is the leading provider of
opt-in e-mail services,” Rohan said in a press release. “We believe that
opt-in e-mail is a complementary strategic business for online advertising
and marketing services companies. Response rates on opt-in e-mail can be as
much as 10 times higher than those of banner advertisements.”
Rohan added, “We are increasing our target price for the shares of 24/7 Media
to $84 from $63 based on our view that 24/7 Media’s leadership position in
opt-in e-mail will substantially increase the company’s long term operating
margins. We reiterate our BUY rating.”
24/7 closed Thursday at TKTKTK.
