(CercleFinance.com) – Wells Fargo on Tuesday initiated monitoring of Criteo, listed on the Nasdaq, with a ‘weight online’ recommendation and a price target set at 37 dollars.
If he says he places the title of the French online advertising giant ‘in his basket’, the analyst explains that he prefers for the moment to retain the ‘buy later’ option.
From his perspective, ‘media commerce’ – leveraging transactional data to deliver better customer experiences and engage with audiences throughout the purchase journey – is a huge opportunity, with a market estimated at $110 billion.
Wells Fargo also says it appreciates the new strategy and the dynamics put in place by the group, which according to him should be the preferred choice of distributors because of its independence and the solidity of its technological offer.
And if its valuation model shows an ‘attractive’ risk/return profile, the intermediary says it expects to see some progress in the amount spent per advertiser, as well as an acceleration in audiences compared to retargeting.
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