Brian Pitz upgraded Criteo SA to a Buy rating, recognizing its strong potential to become the top Commerce Media platform for the Open Web and significant growth drivers in Performance and Retail Media segments.
Pitz highlights Criteo's favorable adjusted EBITDA margin outlook, unique dataset for a competitive edge, and untapped potential in Social Media opportunities, supporting the Buy rating.
Pitz's optimism is reinforced by Criteo's impressive Q1 2024 results, especially in Retail Media and Retargeting, driven by innovation, talent, and targeting capabilities, leading to raised estimates for 2024 and 2025.
Pitz believes Criteo can effectively compete with major players like Amazon in Retail Media through precision targeting on the open web and addressing market fragmentation, leveraging its strengths.
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