BMO Capital downgraded Integral Ad Science (IAS) to Market Perform from Outperform with a price target of $10.30, down from $15, after the company announced its takeout by private equity firm Novacap for $10.30 per share in cash. The firm, which expects to see more strategic M&A as well as sponsor-led take-private transactions across the ad-tech and broader advertising space, believes this announcement has a favorable read-through for names in its ad-tech coverage universe, including DoubleVerity (DV) and Criteo (CRTO).
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Read More on IAS:
- Micron reports Q4 beat, Instagram reports 3B MAUs: Morning Buzz
- Integral Ad Science downgraded to Hold from Buy at Truist
- Positive Outlook for IAS Following Novacap Acquisition: Buy Rating Affirmed by Analyst Andrew Marok
- Integral Ad Science acquisition by Novacap ‘makes sense,’ says Raymond James
- Integral Ad Science PE takeout a positive, says Barclays