Criteo price target lowered to $54 from $66 at Wells Fargo

Wells Fargo lowered the firm’s price target on Criteo (CRTO) to $54 from $66 and keeps an Overweight rating on the shares. The firm notes that management called out macro impact in April and guided Q2 revenues about flat vs. Q1 up 7%. Additionally, Criteo’s “largest” RM partner reducing scope of relationship again in November represents a $100M FY CeXT drag, Wells adds.