Magnite price target raised to $19 from $17 at RBC Capital

RBC Capital raised the firm’s price target on Magnite (MGNI) to $19 from $17 and keeps an Outperform rating on the shares. The firm’s non-deal roadshow with the company’s management offered more context around its Netflix (NFLX) opportunity and competitive moat, the analyst tells investors in a research note. RBC adds that Magnite could start to see more contribution from Netflix next year as they have the potential to become its largest connected-TV partner and importantly validate Magnite’s value proposition within the marketplace.