Criteo Downgraded To Sector Weight From Overweight At KeyBanc

KeyBanc analyst Andy Hargreaves downgraded Criteo (CRTO) to Sector Weight saying the intelligent tracking prevention in Apple's (AAPL) new operating system appears likely to have a larger impact on the company's revenue than he previously expected.

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Criteo's workaround, while effective at tracking retail behavior, appears to be less than 50% effective at matching users on the publisher side, which is much lower than anticipated, Hargreaves tells investors in a research note.

He lowered his fair value estimate for the shares to $49 from $62. The France-based company specializing in digital performance marketing closed yesterday up 13c to $46.14.

 

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