BofA upgraded Magnite to Buy from Neutral with a price target of $15, up from $13, citing increased confidence that it will be “the leading supply-side tech solution in CTV advertising” as the industry transitions into more automated, or programmatic, ad execution. Magnite is increasingly seen as the “go-to ad tech partner” for both buyside and sellside stakeholders due to its market-leading technology, the analyst tells investors.
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