Criteo upgraded to Buy from Neutral at DA Davidson

DA Davidson upgraded Criteo to Buy from Neutral with a price target of $58, up from $43. The company reported solid Q2 results last week and the shares pulled back 7% during yesterday’s broader selloff, the analyst tells investors in a research note. The firm says the news on July 22 that Google is abandoning its prior plan to deprecate third-party cookies in the Chrome browser “removed the last major overhang” on Criteo shares. It believes yesterday’s selloff provides a “good an entry point opportunity as we’re likely to get for some time.” DA sees a de-risked browser privacy backdrop as well as retail media momentum driving a positive business mix shift for Criteo.