UPDATE: PubMatic Inc (PUBM) PT Raised to $60 at KeyBanc Into EPS for Group
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KeyBanc analyst Justin Patterson raised the price target on PubMatic Inc (NASDAQ: PUBM) to $60.00 (from $36.00) while maintaining an Overweight rating.
The analyst commented, "Heading into the final round of advertising reports (TTD and ROKU on 2/18; PUBM 2/23), we have increased confidence that fundamentals remain strong and that IDFA impacts are likely less severe than feared. Connected TV (CTV) momentum is building through ongoing gains against linear TV and could benefit from IDFA-driven budget shifts. We see upside to consensus across the group, with Overweight-rated PUBM our preference due to multiple expansion potential; our PUBM price target increases to $60 (15.5x 2022E EV/S)."
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