CRTO - Criteo gets Street-high target upgrade from JMP

After an early downdraft along with several other tech names, Criteo (CRTO) eked out a 0.7% gain on a day when JMP Securities upgraded the stock to Market Outperform, from Market Perform. Shares are up another 0.8% after hours. JMP pointed to the business potential of the New Solutions segment and expectations for about 50% growth in 2021, based on strength in retail media, the product pipeline, and connected TV ramp. The firm also cites Google's likely exit of the retargeting market. It's set a price target of $45, a Street high, now implying 37% upside.

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Criteo gets Street-high target, upgrade from JMP