Fly News Breaks for August 2, 2018
CRTO
Aug 2, 2018 | 08:15 EDT
SunTrust analyst Matthew Thornton lowered his price target on Criteo to $33 after the company's "out of left field" internal issues resulted in the reduction of its FY revenue growth outlook. The analyst notes that the steps by the returning CEO to reposition the company's products and salesforce is weighing on its credibility. Thornton also kept his Buy rating on Criteo on valuation, growing cash, and the management's expectations of high-single-digit sales growth next year.
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