Outbrain price target raised to $4.70 from $4 at Citi

Citi analyst Ygal Arounian raised the firm’s price target on Outbrain (OB) to $4.70 from $4 and keeps a Neutral rating on the shares. While North American Internet names largely outperformed in 2023, including through multiple expansion, the firm sees fundamentals as “better positioned going into 2024 than into 2023” and sees a strong set up for performance in 2024, the firm says in its 2024 Internet outlook note. Citi’s top picks in the group are are Wix (WIX), Wayfair (W) and GoDaddy (GDDY).