Magnite price target lowered to $20 from $25 at B. Riley

B. Riley lowered the firm’s price target on Magnite (MGNI) to $20 from $25 and keeps a Buy rating on the shares. Magnite reported a modest Q4 beat and reaffirmed FY26 ex-TAC revenue and adjusted EBITDA guidance, with ex-TAC CTV growth accelerating to +20% year over year, well above estimates, as programmatic CTV adoption ramps, the analyst tells investors in a research note. Shares remain attractive, the firm adds.