DoubleVerify upgraded to Overweight from Sector Weight at KeyBanc

KeyBanc upgraded DoubleVerify to Overweight from Sector Weight with a $30 price target. he analyst believes the advertising market us settling "on more stable footing," which shifts the firm’s preference back towards DoubleVerify. The firm believes DoubleVerify’s Authentic Brand Suitability, Custom Contextual, and Authentic Attention products create a multiyear product cycle that benefits from channels like connected TV, social, and retail media opening up. It sees the benefit "manifesting in 2024" and views the stock’s current valuation as "reasonable."