UPDATE: William Blair & Company Initiates Coverage on Criteo SA on Positive Outlook

In a report published Monday, William Blair & Company analyst Justin Furby initiated coverage on Criteo SA (NASDAQ: CRTO) with an Outperform rating.

In the report, William Blair & Company noted, “CRTO enables e-commerce companies to remind consumers about items they previously showed interest in buying. CRTO partners with advertisers to serve customized, engaging display advertisements to provide the final nudge some consumers need to make a purchase. Combining desktop display and mobile display, CRTO's TAM is est. to be $35B in ‘13 and to grow to $51.8B by ‘18, an 8.1% CAGR. CRTO currently trades at $31.20 at ~ 29x ‘14 EBITDA and 16.7x ‘15 EBITDA we see upside to $38 equating to a 20x '15 EBITDA multiple.”

Criteo SA closed on Friday at $34.20.