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.
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