Criteo S.A. (CRTO) PT Lowered to $40 at BMO Capital, 'well positioned as a strategic asset in the broader ad-tech ecosystem.'

BMO Capital analyst Brian J. Pitz lowered the price target on Criteo S.A. (NASDAQ: CRTO) to $40.00 (from $51.00) while maintaining a Outperform rating.

The analyst comments "Strong 3Q25 results, as Contribution ex-TAC/Adj EBITDA was +2.5%/25% above consensus. FY2025E Contribution ex-TAC guide reiterated, with AdJ EBITDA margins expected at 34% (vs. prior 33-34%). AI agent opportunity is increasingly in focus, given the leverage of real-time inventory, pricing, and MCP infrastructure. A proofof-concept with a leading AI provider is currently underway and could open new retail opportunities. Risk/reward attractive as shares trade at ~2.6x 2026E Adj. EBITDA. Reiterate Outperform rating, Target Price to $40. The name remains wellpositioned as a strategic asset in the broader ad-tech ecosystem."

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