UPDATE: Jefferies Initiates Coverage on Criteo SA with Buy Rating, $44 PT on Best Play on Rapid Growth in Programmatic Ad Buying

In a report published Monday, Jefferies analyst Brian Pitz initiated coverage on

with a Buy rating and $44.00 price target. In the report, Jefferies noted, “We initiate coverage with a Buy and $44 PT. We think CRTO looks best positioned to benefit from strong secular growth in the programmatic display ad market, where performance-based ad units like its retargeted display ads are revolutionizing the industry. By our math, CRTO clients earn $13+ in sales for every $1 spent on Criteo ads. Given the high ROI, we expect continued strong demand for CRTO's offerings, giving confidence in go-forward growth.” Criteo SA closed on Friday at $34.20.