AdTech Antitrust RemediesMagnite's benefit from the upcoming AdTech antitrust remedy/penalty phase is likely to be very substantial, and in our view is not reflected in the equity.
Market PositionMagnite continues to take competitive share from other SSPs and benefits from publisher expansion, indicating a strong market position.
Political AdvertisingContribution from a likely contentious mid-term election in 2026 could exceed expectations because CTV’s mix in political ad spend almost doubled from the 2022 cycle.