Tremor International price target lowered to $11 from $12 at JMP Securities

JMP Securities analyst Andrew Boone lowered the firm’s price target on Tremor International to $11 from $12 and keeps an Outperform rating on the shares. The company reported solid Q3 results but its Q4 guidance calls for double-digit declines given macro headwinds, the analyst tells investors in a research note. The firm says that while macro headwinds are leading to lower marketing budgets, Tremor did not see an impact from the Israel and Hamas conflict.