Inuvo price target lowered to 50c from $1 at Alliance Global Partners

Alliance Global Partners lowered the firm’s price target on Inuvo to 50c from $1 and keeps a Buy rating on the shares. The company’s Q1 results were hurt by pressure on advertising budgets, the loss of a large customer and significantly fewer referrals from an ad agency, the analyst tells investors in a research note. Although advertising spending picked up late in Q1, these headwinds will persist in 2023, says the firm.