Truist analyst Youssef Squali lowered the firm’s price target on Integral Ad Science (IAS) to $16 from $18 and keeps a Buy rating on the shares. The company’s “mixed” Q3 results and Q4 guide reflect a slowdown in volumes from CPG and Retail customers, reflecting budget cuts, delayed digital media spend, and slower ramp of newer products, even though its higher gross margins and cost efficiencies drove in-line profits and outlook, the analyst tells investors in a research note.
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