Wells Fargo Keeps Their Buy Rating on MDC Partners (MDCA)

In a report released today, Peter Stabler from Wells Fargo maintained a Buy rating on MDC Partners (NASDAQ: MDCA), with a price target of $8. The company’s shares opened today at $4.30, close to its 52-week low of $3.80.

According to TipRanks.com, Stabler is a top 100 analyst with an average return of 34.9% and a 79.4% success rate. Stabler covers the Technology sector, focusing on stocks such as ANGI Homeservices Inc, IAC/InterActiveCorp, and Match Group Inc.

Currently, the analyst consensus on MDC Partners is a Moderate Buy with an average price target of $8.

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Based on MDC Partners’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $3.41 million. In comparison, last year the company had a net profit of $9.87 million.

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MDC Partners, Inc. engages in the provision of marketing, advertising, activation, communications and strategic consulting solutions. It operates through the following business segments: Global Integrated Agencies, Domestic Creative Agencies, Specialist Communications, Media Services, All Other, and Corporate.