PubMatic price target lowered to $10 from $15 at Scotiabank

Scotiabank lowered the firm’s price target on PubMatic (PUBM) to $10 from $15 and keeps a Sector Perform rating on the shares. While results for Q2 were decent, this was “overshadowed by poor guidance” for Q3, the analyst tells investors. While there the company holds no debt, continues to repurchase shares, and has a decent free-cash-flow, the firm sees limited catalysts for significant outperformance in the near term.