Criteo price target lowered to $22 from $38 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Criteo to $22 from $38 and keeps an Equal Weight rating on the shares. Criteo reported a Q3 beat with strength in the quarter driven by a reacceleration in the retail media segment as well as 31% growth in the Commerce Audiences product, the analyst tells investors. However, the Q3 strength was offset by the company’s Q4 guidance and announcements that it no longer believes its $1.4B retail media revenue target for 2025 is achievable and that it expects retail media growth to decelerate in 2024, the analyst added.