MAX - MediaAlpha rises as Citi boosts to Buy after pullback

MediaAlpha (MAX) is up 1.2% after an upgrade to Buy at Citi, from Neutral. The firm points to multiple growth drivers, as well as valuation after shares have fallen more than 40% from their March peak. There won't be "discrete catalysts" to buy in the near term, other than "continued earnings beats." The company has built "the best digital customer acquisition platform serving the insurance market, and will be one of the biggest beneficiaries of the shift towards performance marketing and direct-to-consumer."

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MediaAlpha rises as Citi boosts to Buy after pullback