Cardlytics price target raised to $17 from $15 at Needham

Needham raised the firm’s price target on Cardlytics to $17 from $15 and keeps a Buy rating on the shares. The firm is updating its model following the company’s “landmark win” with Amex, as well as the two recent capital markets transactions that shouldl help alleviate its near-term balance sheet concerns, the analyst tells investors in a research note. The capital markets transactions should make the equity story significantly less uncertain now that Cardlytics is not dependent on external financing to execute on its strategic plans, Needham added.