Lake Street lowered the firm’s price target on Tremor International to $6.50 from $8 and keeps a Buy rating on the shares after Tremor cut its 2023 outlook. While the firm understands investor frustration with “another downward revision to estimates, it does not believe Tremor is being singled out versus competitors as challenging macro conditions are limiting ad spend, driving managed service softness, and causing customers to shift to lower cost products, the analyst tells investors.
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