BofA starts DoubleVerify with a Buy, sees 32% upside

As previously reported, BofA initiated coverage of DoubleVerify with a Buy rating and $47 price target, comparing the company to a cross between a rating agency and an adtech firm and the “Moody’s of digital advertising.” The firm thinks all stakeholders are motivated to adopt a standard for media quality, helping to preserve the fair exchange of value across he value chain, which supports its Buy rating and price target on DoubleVerify shares, which it notes represents 32% upside.