Integral Ad Science price target lowered to $20 from $25 at Oppenheimer

Oppenheimer lowered the firm’s price target on Integral Ad Science to $20 from $25 on weaker first half of the year outlook due to volume discounts for certain large clients in exchange for longer duration contracts and higher minimum spend levels. While investors worried about a more competitive pricing environment, the firm believes switching costs remain high between vendors. Oppenheimer keeps an Outperform rating on the shares.