Outbrain price target raised to $9 from $6 at Needham

Needham raised the firm’s price target on Outbrain (OB) to $9 from $6 and keeps a Buy rating on the shares. The firm is adjusting its model after the company’s acquisition of Teads, expected to close in Q1, the analyst tells investors in a research note. Needham sees $30M of cost synergies from the deal within the first 24 months after closing.