Wells Fargo raised the firm’s price target on Magnite (MGNI) to $24 from $13 and keeps an Equal Weight rating on the shares. The firm is raising Q2 contribution ex. TAC up to guidance HE, reflecting checks which suggest programmatic ads industry strength continued from Q1 to Q2. From here debate likely shifts to magnitude of Google (GOOGL) behavioral remedy benefit in 2026, Wells adds.
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