Perion Network price target raised to $37 from $32 at Needham

Needham analyst Laura Martin raised the firm’s price target on Perion Network (PERI) to $37 from $32 and keeps a Buy rating on the shares. The company should be a a key beneficiary of the DOJs anti-trust lawsuit against Alphabet (GOOGL) because over 40% of its revenue is attributable to Bing, the #2 search engine, the analyst tells investors in a research note. Any remedies that weaken Google Search help Bing, and Perion Network is one of the largest Bing affiliates, the firm adds.