CRTO - Criteo loses bear as JPMorgan upgrades on strength against headwinds

With the company "increasingly well-positioned" for 2021, J.P. Morgan upgrades Criteo (CRTO) from Underweight to Neutral.Analyst Doug Anmuth believes the company " is well-positioned to navigate privacy headwinds w/1P solutions & a more diversified business mix, as New Solutions are expected to reach 30% of RexT in 2021."But Anmuth notes that the "external landscape remains uncertain and execution risk remains."Price target is raised from $15 to $33, based on 4.5x 2022E EBITDA of $299M.Criteo shares are up about 9% pre-market to $31.50.Yesterday, Criteo shares soared on reports the company had drawn takeover interest.

For further details see:

Criteo loses bear as JPMorgan upgrades on strength against headwinds