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Fly News Breaks for October 31, 2019
CRTO
Oct 31, 2019 | 09:13 EDT
Deutsche Bank analyst Lloyd Walmsley lowered his price target for Criteo to $26 from $32 saying the company's revenue growth remains elusive. Criteo reported "disappointing" Q4 results and guidance, as declines in the core retargeting product more than offset the ramp in newer products, Walmsley tells investors in a research note. Further, on top of challenging fundamentals, CEO JB Rudelle stepping back to the Chairman roll and bringing in a new CEO "adds to the execution risk at Criteo," adds the analyst, who keeps a Buy rating on the shares.
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