Perion Network price target raised to $10 from $6 at Lake Street

Lake Street analyst Eric Martinuzzi raised the firm’s price target on Perion Network (PERI) to $10 from $6 and keeps a Hold rating on the shares. Perion is expected to lay off 6% of its workforce, according to a source close to the company, and is reexamining its CodeFuel search division after the recent measures taken by Microsoft (MSFT), the analyst tells investors in a research note. The firm assumes the layoffs are included in the existing $48M-$52M AEBITDA guidance.