Tremor International initiated with a Buy at Lake Street

Lake Street analyst Eric Martinuzzi initiated coverage of Tremor International with a Buy rating and $12 price target. Demand for Tremor International’s ad services contracted and earnings declined during "a difficult 2022," but the firm believes recent events -including the acquisition of Amobee and an investment in VIDAA – offer investors two positive catalysts and have the company "teed up to return to growth." The firm believes the stock’s low valuation creates a high floor despite the current negative market sentiment towards the shares.