Criteo price target lowered to $42 from $57 at DA Davidson

DA Davidson lowered the firm’s price target on Criteo (CRTO) to $42 from $57 and keeps a Buy rating on the shares. The company reported a decent Q1, but negative client developments weighed on its outlook as its largest Retail Media customer recently informed Criteo that, while it will continue to use its core Retail Media supply-side tech, it will cease using the company for demand gen and billing/collection services, the analyst tells investors in a research note. The firm expects Criteo to be a “show-me stock” for a while on renewed “in-housing” and competitive concerns in Retail Media.