Integral Ad Science initiated with a Sector Perform at Scotiabank

Scotiabank initiated coverage of Integral Ad Science (IAS) with a Sector Perform rating and $10 price target as the firm initiated coverage of sic companies in the advertising technology space. In AdTech, the company’s valuation remains attractive compared to its peers, reflecting a balance of its strengths and the need for further evidence of sustained growth. However, the firm recommends that investors wait for clear growth catalysts or further improvements in innovation and market share before considering IAS as “a compelling buy opportunity,” the analyst added.