) to buy from neutral.
Analyst Marta Nichols says she upgraded due to increases in estimates and the price target, as well as a more attractive risk/reward scenario. She says as Help Wanted advertising rises, both Monster and its online competitors will win. She notes competitive concerns have reached a fever pitch, yet Monster still is holding its own in the war for marketshare.
Nichols raised the 2004 earnings per share estimate by 5 cents to 55 cents, and upped the 2005 estimate by 5 cents to 75 cents. She upped her target to $27, which is supported by her comparable analysis to other Internet growth stocks, as well as fair value relative to Monster's secular growth, and her discounted cash-flow analysis.