Magnite price target raised to $30 from $22 at Scotiabank

Scotiabank analyst Nat Schindler raised the firm’s price target on Magnite (MGNI) to $30 from $22 and keeps an Outperform rating on the shares. While the company posted a strong quarterly beat, Magnite provided conservative guidance, the analyst tells investors. The firm remains positive on the stock and believes it is one of the more well-positioned stocks in the adtech sector under its coverage.