B. Riley analyst Zach Cummins upgraded PubMatic (PUBM) to Buy from Neutral with a price target of $10.50, up from $10. The company reported a Q4 beat, issued “solid” Q1 guidance, and outlined an expected return to double-digit growth and stronger margin expansion in the second half of 2026, the analyst tells investors in a research note. Riley cites PubMatic’s “secular growth channels,” including connected TV, mobile app, and its momentum in emerging revenues for the upgrade.
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