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Fly News Breaks for March 9, 2016
FB, CRTO
Mar 9, 2016 | 07:07 EDT
Jefferies analyst Brian Pitz attributes weakness seen in shares of Criteo to reports that Facebook will shut down an ad-tech product that lets some advertisers serve ads into third party sites and apps. However, he believes this is a non-issue since Criteo is using core Facebook services to serve ads directly in users' mobile feeds. Pitz, who still expects the company to greatly expand its Facebook business this year, sees the pullback as a buying opportunity and keeps a Buy rating and $65 price target on Criteo shares.
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