TechTarget, Inc. (TTGT) PT Lowered to $38 at KeyBanc

KeyBanc analyst Justin Patterson lowered the price target on TechTarget, Inc. (NASDAQ: TTGT) to $38.00 (from $40.00) while maintaining a Overweight rating.

The analyst commented, "We maintain our Overweight rating but lower our PT from $40 to $38 (20x 2025E pro-forma EV/EBITDA) as we now project $140M in pro-forma EBITDA due to the economy. While IT spending remains choppy, TechTarget continues to focus on product innovation. We believe a September 19th Investor Day will highlight synergy potential with Informa Tech, and paint a picture of at least $145M in pro-forma EBITDA by 2025E."

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