Lake Street Capital Markets Starts Tremor International (TRMR) at Buy

(Updated - January 30, 2023 9:23 AM EST)

Lake Street Capital Markets analyst Eric Martinuzzi initiates coverage on Tremor International (NASDAQ: TRMR) with a Buy rating and a price target of $12.00.

The analyst comments "After a difficult 2022, in which demand for Tremor International’s ad services contracted and earnings declined, we believe recent events have the company teed up to return to growth. The acquisition of Amobee and an investment in VIDAA offer Tremor investors two positive catalysts. We believe the company is on a sustainable path for growth and expect the valuation gap to close as investors better appreciate the upside. Despite the negative market sentiment towards TRMR shares, we believe the stock’s low valuation creates a high floor. We are initiating with a Buy rating and a $12 price target."

For an analyst ratings summary and ratings history on Tremor International click here. For more ratings news on Tremor International click here.

Shares of Tremor International closed at $8.16 yesterday.

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