Viant price target raised to $10 from $7.50 at Needham

Needham raised the firm’s price target on Viant to $10 from $7.50 and keeps a Buy rating on the shares. The analyst cites the firm’s discussion with the company CEO and his goals for 2024, which include accelerating CTV ad revenue growth, focusing on the largest CTV ad sellers by driving adoption of DSP‘s “Direct Access” product, and scaling its household ID as a substitute for Cookies. The CEO also stated that Generative AI has the potential to lower creative production costs and increase productivity by 50%-100%, the firm tells investors in a research note.