Berenberg Starts Criteo S.A. (CRTO) at Buy

Berenberg initiates coverage on Criteo S.A. (NASDAQ: CRTO) with a Buy rating and a price target of $50.00.

Analyst Sarah Simon commented, "With organic growth of over 30% anticipated in 2016 and an adjusted EBITDA margin of 10.8% in 2015, Criteo is a profitable leader in global advertising technology. Furthermore, Criteo’s strong free cash flow gives it the ability to invest in further growth, both organically and via M&A. We believe that this will allow the company to maintain its very strong market position."

She added, "While Criteo’s “peers” have seemingly struggled with the leap from desktop to mobile, and have lowered guidance as a result, Criteo is well ahead in the mobile transition, with over 50% of its revenues coming from this platform. The company’s geographic diversification also renders it less vulnerable to growth constraints from header bidding technology."

For an analyst ratings summary and ratings history on Criteo S.A. click here. For more ratings news on Criteo S.A. click here.

Shares of Criteo S.A. closed at $33.58 yesterday.

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