After AOL’s big investor day yesterday, Jefferies has a note out and “came away positively.”
They have a hold rating on the stock and are basically saying: steady as she goes. While there isn’t enough evidence that the turnaround is working to make the stock a buy, AOL is basically heading there, Jefferies says.
- Jefferies likes AOL’s management team and a renewed focus on revenue growth.
- HuffPo has aggressive growth plans. This is thanks to the AOL portal’s traffic firehose, international expansion and “a higher quality of journalism, while staying within budget.”
- “Early Patches will start to see profitability by 3Q10/4Q10.”
- Project Devil, AOL’s huge new ad format, is doing well. It’s small right now but they’re expanding it aggressively both on their properties and through their ad network.
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