Citi Neutral on AOL

Citi Investment Research is out with a research report on AOL (NYSE: AOL) and it has a Neutral rating on shares. It has a $15 price target on shares.

In a note to clients, Citi Investment Research writes, "Overall Q3 Revenue of $532MM came in better vs. Citi/Street @ $521/$524MM, w/ upside from Int'l Display & Search. EBITDA came in at $87MM which was above our $69MM est driven by strong Gross Margin. For 2011, the company maintained EBITDA outlook $340-$370MM."

Shares of AOL are up $1.37 to $14.72, a gain of 10.26%.