Canaccord starts ‘deeply discounted’ Perion Network with a Buy

As previously reported, Canaccord analyst Matthew Weber initiated coverage of Perion Network (PERI) with a Buy rating and $14 price target With two decades of operating history, Perion is “currently in the midst of what may be its most compelling strategic pivot yet” in an increasingly fragmented media buying landscape, the analyst tells investors. While “not dismissing the risk associated with turnarounds,” the firm contends that a substantial amount of operating risk already appears priced in and it sees “a credible path” for continued CTV and DOOH momentum to sustain consolidated growth at “a level that would likely lead to a meaningful rerating from today’s deeply discounted valuation.”