Magnite price target raised to $18 from $13 at Macquarie

Macquarie analyst Tim Nollen raised the firm’s price target on Magnite (MGNI) to $18 from $13 and keeps an Outperform rating on the shares. Magnite’s Q4 results were “satisfying,” restoring confidence in the returning upward trajectory of biddable connected TV, the analyst tells investors in a research note. Recent events such as Amazon’s (AMZN) Prime Video with ads launch and Walmart’s (WMT) acquisition of Vizio (VZIO) can be positives for CTV and Magnite, the firm says.