Needham lowered the firm’s price target on Stagwell to $8 from $9 but keeps a Buy rating on the shares. The analyst is positive on the company’s fundamentals, citing Stagwell having completed buying its infrastructure backbone while noting that future acquisitions will be add-on products that can be rolled out across all of its clients. Needham further believes that Stagwell differentiates itself in the marketplace through its integration of technology and data with creative ad solutions to drive sales upside for its clients.
Published first on TheFly
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