TechTarget price target lowered to $25 from $40 at Craig-Hallum

Craig-Hallum analyst Jason Kreyer lowered the firm’s price target on TechTarget (TTGT) to $25 from $40 and keeps a Buy rating on the shares. With the Informa Tech merger now complete, the firm believes the combined company is poised to hit the ground running given a long merger process afforded management the time to complete much of the planning. While Craig-Hallum does not think macro trends have inflected to date, it does see TechTarget as well positioned to launch cross/upsell efforts in conjunction with an anticipated improvement in tech spending trends.