BMO Capital lowered the firm’s price target on Integral Ad Science to $16 from $18 and keeps an Outperform rating on the shares. The company is reducing 2024 revenue outlook on strategic decision to lower prices for key client contract renewals in exchange for higher-volume, exclusive commitments, though Integral Ad Science likely remains well positioned to benefit as digital ad fraud proliferates, the analyst tells investors in a research note. BMO sees a significant opportunity for the company as brands increasingly run ads against user-generated short-form videos in social media feeds like TikTok, Instagram Stories, Facebook Reels, and YouTube Shorts.
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