Magnite price target raised to Street-high $39 from $18 at Rosenblatt

Rosenblatt raised the firm’s price target on Magnite (MGNI) to a Street-high $39 from $18 and keeps a Buy rating on the shares. Magnite could see a major boost from upcoming AdTech antitrust remedies and potential litigation proceeds, which the market hasn’t fully priced in yet, the analyst tells investors in a research note. Based on conservative assumptions, Rosenblatt believes the ruling against Google (GOOGL) is strong and likely to hold on appeal.