Magnite price target raised to $20 from $17 at BofA

BofA analyst Omar Dessouky raised the firm’s price target on Magnite (MGNI) to $20 from $17 and keeps a Buy rating on the shares, citing increased confidence in the calendar 2025 growth trajectory and a broad re-rating among smallcap adtech stocks. Netflix’s (NFLX) aspiration to enable more programmatic availability and enhanced targeting for its ad inventory suggests potentially higher penetration of Magnite-facilitated transactions and better take rate through add-on services, the analyst tells investors.