TechTarget price target lowered to $40 from $58 at KeyBanc

KeyBanc lowered the firm’s price target on TechTarget to $40 from $58 to reflect the share count of New TechTarget, while keeping an Overweight rating on the shares. The firm continues to view this as a transformative combination as scale and data advantages should facilitate consistent low double digit percentage organic growth and a path to $1B-plus revenue over the medium-term.