Viant price target lowered to $16 from $18 at Citizens JMP

Citizens JMP analyst Matthew Condon lowered the firm’s price target on Viant (DSP) to $16 from $18 and keeps an Outperform rating on the shares. Viant reported strong Q3 results, with contribution ex-TAC 2% above consensus and EBITDA coming in above the high end of guidance, the analyst tells investors in a research note. The company’s recently announced multi-year partnership with Molson Coors (TAP) underscores its success moving upmarket and ability to execute against the $250M enterprise ad-spend pipeline highlighted last quarter, the firm says.