Cannonball Research upgraded Magnite (MGNI) to Buy from Neutral with a $17 price target. The analyst believes the negative sentiment that weighed on the stock prior to the announcement of the partnership with Netflix (NFLX) is behind the company. The stock will go up driven by upside to estimates and valuation multiple expansion, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MGNI:
- Magnite (NASDAQ:MGNI) Shares Soar Following Partnership with Netflix
- Magnite upgraded to Buy from Neutral at BofA
- Unusually active option classes on open May 16th
- Magnite price target raised to $20 from $18 at Craig-Hallum
- Netflix could become Magnite’s largest customer by end of 2025, says Benchmark