Craig-Hallum upgraded Cardlytics to Buy from Hold with a price target of $18, up from $10. The company reported an “impressive” quarter and guidance that sets the stage for improving fundamentals throughout 2024, the analyst tells investors in a research note. Cardlytics’ 2024 is off to a strong start with the return of Starbucks (SBUX), the addition of American Express (AXP) and the rollout of a new suite of real-time data reporting tools which has a been a sticking point for advertisers, the analyst tells investors in a research note. The firm sees the company’s billings accelerating in Q1 and improved top- and bottom-line numbers in 2024.
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