Tremor International price target lowered to $12 from $20 at JMP Securities

JMP Securities lowered the firm’s price target on Tremor International to $12 from $20 and keeps an Outperform rating on the shares. Sales execution missteps compounded with a softening macro backdrop leading to the lowered expectations, the analyst tells investors in a research note. At the same time, the firm believes Tremor is likely to benefit from the inevitable ad market recovery.