Ziff Davis initiated with an Equal Weight at Barclays

Barclays analyst Ross Sandler initiated coverage of Ziff Davis with an Equal Weight rating and $88 price target. The analyst thinks the first half of 2023 for Ziff Davis "might be rough" with continued negative organic growth rates, consistent with his view for the overall digital advertising industry. "Things start to look a lot more interesting" for Ziff Davis after this, however, as high incremental margins and the ad growth recovery, combined with a cheap valuation, could set the stage for a strong move in shares into 2024, Sandler tells investors in a research note.