Taboola price target lowered to $5 from $6 at JMP Securities

JMP Securities analyst Andrew Boone lowered the firm’s price target on Taboola (TBLA) to $5 from $6 and keeps an Outperform rating on the shares. JMP is “broadly positive” into Q4 digital advertising earnings, as the firm believes the advertising environment is healthy, driven by positive consumer spending over the holiday period, the contribution of political ad spend, and better business sentiment, while the uncertainty around and disruption to TikTok likely aided the coverage universe, the analyst tells investors in a research note.