UPDATE: Benchmark Initiates Move at Buy

Benchmark initiates coverage on Move (NASDAQ: MOVE) with a Buy rating and a price target of $11.

Benchmark notes, “Move is a small-cap digital advertising company in the later stages of a turnaround. We believe 2012 will mark a return to revenue growth, as new product initiatives increase monetization opportunities, primarily through Realtor.com. Move is a high-quality business positioned for a return to growth. We initiate coverage with a Buy rating and $11 price target.”

Move closed at $8.53 yesterday.