Magnite Inc. (MGNI) surged 14.31% after higher price target and buy recommendation

Magnite, Inc. (NASDAQ:MGNI) surged by 14.31% to $24.12 after receiving a higher price target and a “buy” recommendation from Rosenblatt. The firm raised the price target to $39 from $18, citing potential upside from the AdTech antitrust remedy and penalty phase against Google. This factor is not reflected in MGNI’s stock price yet.

Rosenblatt believes that Magnite will benefit significantly from the upcoming AdTech antitrust remedy and penalty phase, potentially as early as 2026. They raised their price target for MGNI to $39, highlighting the potential earnings from behavioral remedies and civil litigation against Google. This analysis is based on the strength of the ruling against Google.

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Read more at Yahoo Finance: Magnite Inc. (MGNI) Jumps 14.31% on Higher Price Target, Buy Reco