Magnite price target raised to $15 from $13 at Susquehanna

Susquehanna analyst Shyam Patil raised the firm’s price target on Magnite to $15 from $13 and keeps a Positive rating on the shares. The analyst said they posted a generally solid 4Q despite the challenging ad environment, though the 1Q guide reflects continued advertising industry softness. Although the near term could be choppy due to the macro, we remain buyers for the long term as we believe the company is set up particularly well to benefit from the CTV opportunity over time.