Truist math puts potential Criteo buyout above $60 per share

Truist analyst Matthew Thornton says the Reuters report that Criteo has hired an advisor to manage a sales process suggests the company could garner interest from both strategic acquirers and private equity. Applying a 10-times enterprise value to adjusted EBITDA multiple, similar to Nielsen’s leveraged buyout, to Criteo’s 2025 adjusted EBITDA target discounted back two years at 10% would put the buyout price at greater than $60 per share, the analyst tells investors in a research note. The firm keeps a Buy rating on Criteo with a $35 price target. The stock in midday trading is up 8% to $33.50.