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Citi: Buy Rubicon Project, Sell Rocket Fuel In SMID-Cap Internet

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Citi started The Rubicon Project Inc RUBI with a Buy rating and $26 price target, while initiating Rocket Fuel Inc FUEL with a Sell rating and target price of $2.50.

Rubicon Project

On Rubicon Project, analyst Mark Kelley said, "We view the company as best positioned to benefit from programmatic growth of 30+ percent with its full-stack offering. We see limited take rate risk as its DSP becomes a bigger part of the mix (Buyer Cloud). Our CY17 Adjusted EBITDA estimates are ~10 percent above consensus."

Kelley added that Rubicon's "full suite offering across channels...


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