KeyBanc downgraded Criteo to Sector Weight from Overweight without a price target ahead of the earnings report on August 1. The analyst says the positive catalysts from Privacy Sandbox changes and Retail Media are now priced into the shares, leaving investors with a more balanced risk/reward into a mixed macro environment for retail. It is an appropriate time to step to the sidelines, the analyst tells investors in a research note. The firm says advertising technology catalysts for Criteo have already played out.
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